Tan Registration Required TAN (Tax Deduction and Collection Account Number) registration required in the following circumstances: 1. Tax Deduction at Source (TDS): Entities or individuals who are responsible for deducting tax at source as per the tax laws are required to obtain a TAN. TDS is applicable to various payments such as salaries, interest,… Read More »
TAN registration process for TDS return TAN registration process for TDS return, In the context of TDS (Tax Deducted at Source) returns, the TAN (Tax Deduction and Collection Account Number) registration number refers to the unique ten-digit alphanumeric identifier assigned to the entity or individual responsible for deducting tax at source. When filing TDS returns,… Read More »
TAN Registration in Tally TAN registration in Tally is an accounting software widely used for financial management and tax compliance. Tally allows users to record and manage TDS (Tax Deducted at Source) transactions, which require the TAN registration number. You can configure and provide the TAN registration number while setting up the company’s information… Read More »
TAN registration definition TAN registration definition, TAN, which is short for Tax Deduction and Collection Account Number, represents a distinctive identifier used in taxation. It is a unique ten-digit alphanumeric identifier issued by the tax authorities in many countries, including India. TAN registration is require for entities or individuals responsible for deducting or collecting… Read More »
GST registration taxpayer or tax deductor GST registration taxpayer or ta deductor: GST registration is applicable to both taxpayers and tax deductors, but the specific requirements and processes may vary. Let’s understand each category: 1. Taxpayer: A taxpayer is a person or entity that engaged in the supply of goods or services and required… Read More »
TDS Compliance Here are some key features and services offered by the TDS compliance portal in India: 1.TDS Statement Filing: Taxpayers can file their TDS statements, including Form 24Q, 26Q, 27Q, and 27EQ, electronically through the TRACES portal. These statements contain details of tax deducted and deposited by the deductor. 2.TAN Registration:… Read More »
GST on new purchase of vehicles GST on new purchase of vehicles, The Good and Service Tax on the purchase of vehicles can be claim as input tax credit by registered businesses. Here are the ways to claim the GST on a new purchase of vehicles: 1.Ensure the supplier is register for GST: To claim… Read More »
Is TDS deducted monthly or annually For salaries and certain other payments, such as rent, professional fees, interest, commission, and contract payments, TDS deducte on a monthly basis. It is at the time of payment or credit of the amount to the payee’s account, whichever is earlier. Visit https://www.incometax.gov.in For other types of payments,… Read More »
How to Make TDS Entries in Accountancy: A Step-by-Step Guide Tax Deducted at Source (TDS) is a critical aspect of tax compliance for businesses and individuals in many countries. It involves deducting a specified percentage of tax from payments made to vendors, contractors, or employees and depositing it with the tax authorities. Accurate TDS entries… Read More »
