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Tax Deduction and Collection Account Number. In India, a Tax Deduction and Collection Account Number ( TAN) is a 10 digit alpha-numeric number issued by the Income Tax Department to the persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961. [1]
A permanent account number ( PAN) is a ten-character alphanumeric identifier Foundational ID, issued in the form of a laminated "PAN card", by the Indian Income Tax Department, to any person who applies for it or to whom the department allots the number without an application. It can also be obtained in the form of a PDF file known as e-PAN ...
Tax deduction at source. Tax deduction at source (TDS) is an Indian withholding tax that is a means of collecting tax on income, dividends, or asset sales by requiring the payer (or legal intermediary) to deduct tax due before paying the balance to the payee (and the tax to the revenue authority). Under the Indian Income Tax Act of 1961, income ...
The department can search residential and business premises of any taxpayer to check records and valuables to ensure that no evasion of tax is taking place. Section 132 of the Income Tax Act, 1961 provides the department the power to conduct search and seizure.
Form 10BA. Form 10BA is a document that is used by a certain section of assessees while filing income tax returns in India. The form is a declaration by the assessee. The format is specified by the Income Tax Department of India. Form 10BA applies to a certain section of assessees who are required to claim deductions under section 80GG.
Corporate taxes (33.99%) Other taxes (2.83%) Excise taxes (20.84%) Customs duties (17.46%) Other taxes (8.68%) other taxes (11.96%) Income tax in India is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income; agricultural income is defined ...
In 15 digit IDs, III is an identification number created through certain mathematical methods (the last digit might be an English letter, such as X). The ID card is used for residential registration, army enrollment registration, registration of marriage/divorce, going abroad, taking part in national exams, and other social or civil matters.
List of Identity documents of India. Aadhaar Card, issued by Unique Identification Authority of India. Voter ID Card issued by the Election Commission of India. Indian Passport, issued by Ministry of External Affairs of the Republic of India. PAN Card, issued by the Income Tax Department.