Documents Required for Partnership Firms to Apply for TAN in India

Introduction

TAN, or Tax Deduction and Collection Account Number, is a 10-digit alphanumeric number required for deducting and depositing tax at the source. It is mandatory for all entities, including partnership firms, to obtain TAN to comply with the income tax regulations in India. In this article, we will discuss the TAN application process and the documents required for partnership firms to apply for TAN.

What is a TAN application?

A 10-digit alphanumeric number called the TAN, or Tax Deduction and Collection Account Number, is necessary to withhold and deposit tax at the source. It is a special identifying number given to people, organizations, and businesses by the Income Tax Department of India if they must withhold or collect tax at the source.

To apply for a TAN, you must submit Form 49B, which is correctly filled out and signed, as well as the required paperwork and the application fee. Through the NSDL or UTIITSL portals, TAN applications can be submitted online. The Income Tax Department issues the TAN to the applicant after processing and verifying the application. To comply with Indian income tax laws, all entities—including people, partnerships, businesses, and trusts—must obtain TANs.

Documents Required for TAN Application for Partnership Firms

Here are all the documents that are required in the TAN application for a partnership firm:

1. Partnership deed: A partnership deed is a legal document that specifies the rules and regulations of the partnership firm, including the profit-sharing percentage, the obligations and functions of the partners, and capital contributions. A partnership deed is a mandatory document required for TAN applications.

2. PAN card: The partnership firm must have a PAN card in the name of the firm. A PAN card is a unique 10-digit alphanumeric number issued by the Income Tax Department that acts as an identification number for the partnership firm.

3. Address proof: To establish the address of the partnership firm, the firm must produce legitimate address proof, such as an electricity bill, bank statement, or rent agreement. The address listed in the partnership deed must match the address on the address evidence.

4. Identity evidence: A passport, voter ID, or driver’s license are acceptable forms of identification that the partnership firm must produce as proof of the authorized signatory’s identity. Identity documentation needs to be self-attested.

5. Photographs: Two passport-size photographs of the authorized signatory must be submitted along with the TAN application.

6. Duly filled and signed Form 49B: Form 49B is a TAN application form that must be duly filled out and signed by the authorized signatory of the partnership firm.

7. Payment proof: The TAN application fee must be paid online through net banking, a debit card, or a credit card. The payment receipt must be kept as proof of payment.

Conclusion

Obtaining a TAN is mandatory for all entities, including partnership firms, to comply with the income tax regulations in India. Partnership firms must provide the partnership deed, PAN card, address proof, identity proof, photographs, duly filled and signed Form 49B, and payment proof for the TAN app. It is essential to ensure that all the documents are correct and complete to avoid any delays or rejections in the TAN application process. Partnership firms can apply for TAN online through the NSDL or UTIITSL portal and receive the TAN within a few days of submission of the application.

Suggested Read: Importance of TAN Application for Business Entities