Income tax department allots an account number to all those persons who are required to pay tax or to file a tax return or annual information report (AIR). This number is permanent in nature and need to be quoted on all the tax returns, tax payments challans, any correspondence with the income tax department. This number is an alphanumeric number of 10 digits which is allotted only once to a person. Income tax department also issues a pan card specifying the pan number, and particulars of the person to whom the number has been allotted like name and date of birth or date of incorporation.
While making payments to suppliers, vendors, service providers, employees the tax needs to be deducted at source which is also known as TDS. Tan no. is a permanent identification number, allotted to those persons who are liable to deduct tax at source. A tan is mandatory while making payment of TDS to the Government which was deducted while making payments to various parties. It is also necessary to quote while filing the TDS return. All person who have been allotted a TAN Number must file with income tax department quarterly TDS returns and in case of NIL return a statement to that effect must be filed. Mandatory Registration Applicable to all Businesses in India
Every persons engaged in the manufacture of dutiable goods, first and second stage dealers desiring to issue Cen vatable invoices, persons holding warehouses for storing non‐duty paid goods are required to obtain registration with central excise department. However the persons not liable to register under excise are those who manufacture the excisable goods, which are chargeable to nil rate of excise duty or are fully exempt from duty by a notification, a small scale units availing the exemption based on value of clearances under a notification, persons manufacturing excisable goods by following the warehousing procedure under the Customs Act, 1962 subject to certain conditions, the person who carries on wholesale trade or deals in excisable goods (except first and second stage dealer, as defined in Cenvat Credit Rules, 2004), persons who use excisable goods for any purpose other than for processing or manufacture of goods availing benefit of concessional duty exemption notification. Mandatory Registration Applicable to all Businesses in India