TAN – Every deductor is required to obtain a unique identification number called TAN (Tax Deduction & Collection Account Number) which is a ten digit alpha numeric number
PAN – Permanent account number is the identification number for a tax payer for his assessment purpose
Deductor – The person who is responsible for deduction of tax on particular types of payments being made by them
Deductee – The person whose tax is liable to be deducted on particular types of payments
Financial Year – The Financial year is the year in which the actual transaction takes place i.e. the year in which the tax is to be deducted on particular payments which starts from 1st of April & ends on 31st March e.g. Period from 01.04.2011 to 31.03.2012 is known as F.Y. 2011-12
Assessment Year – The year commences from 1st April subsequent to financial year under consideration. Financial year 2011-12 illustrated above would be A.Y. 2012-13
TIN – Tax Information Network. It comprises of a network system managed & operated by National Securities Depository Limited (NSDL). It receives TDS returns/statements in electronic format through the facilitation centers set up by it on behalf of the Income tax Department
PAN – Permanent account number is the identification number for a tax payer for his assessment purpose
Deductor – The person who is responsible for deduction of tax on particular types of payments being made by them
Deductee – The person whose tax is liable to be deducted on particular types of payments
Financial Year – The Financial year is the year in which the actual transaction takes place i.e. the year in which the tax is to be deducted on particular payments which starts from 1st of April & ends on 31st March e.g. Period from 01.04.2011 to 31.03.2012 is known as F.Y. 2011-12
Assessment Year – The year commences from 1st April subsequent to financial year under consideration. Financial year 2011-12 illustrated above would be A.Y. 2012-13
TIN – Tax Information Network. It comprises of a network system managed & operated by National Securities Depository Limited (NSDL). It receives TDS returns/statements in electronic format through the facilitation centers set up by it on behalf of the Income tax Department
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