Answer / vishwajeet

PAN is Permanent Account Number ie account number of the
assessee in the Income Tax department and every assessee
should have only one PAN.

TAN is the Tax-Deduction Account Number i.e. the account
number alloted by Income Tax dept. to the assessee who has
right to duduct tax at source on income(TDS) or collect at
source (TCS).

Answer / udaykumar

PAN means Permanent Account Number with Income Tax
Department, and TAN which is given by IT department for TDS
and TCS

Answer / h.r. sreepada bhagi

Advice to all. If you do not know the answer please do not
write a wrong answer as many beginners read it.

Following answers already mentioned above are correct (This
answer is with reference to India):

PAN - Permanent Account Number.
TAN - Tax Deduction Account Number.

Both the numbers are issued by the Income Tax Department
against the application in the prescribed form by an
assessee or a person.
PAN must be quoted while preparing & filing the Income Tax
Returns and every assessee should have obtained a PAN &
should not have more than one.
TAN is required for those who are responsible to with hold
tax from the amounts paid or payable as per the Income Tax
Act. This No. needs to be quoted in TDS remittance challans,
TDS Certificates and periodical returns to be filed with the
Income Tax department.

Answer / mahantesh wali

PAN it means permanant account number,it releted to
employee and also we can pay tax through this number.


TAN it means tax deduct account number, it releted to
employer and we can tax deduct through this number

Answer / sudalai rajan

PAN is for to pay the tax to the government and for every
individual and firm must have this and its for filing
returns of their entire income is earn from different
sources during the FY,This is important for every individual
and firm.FOR 27A BEFORE 7TH EVERY MONTH must be deposisted
to Bank account ITNS 281 CHALLAN

TAN is for to deduct the tax from different types of TDS
sources viz, consultancy, Contract, Sub Contract, Rent,
Salaries etc and for Tax Collection TCS Goods and
transactions classified under TCS are listed below:
Alcoholic liquor for human consumption including Indian Made
Foreign Liquor (IMFL)Tendu leaves Timber obtained under a
forest lease
Timber obtained by any mode other than under a forest lease
Any other forest prodce not being Timber or Tendu
Scrap (Scrap means waste and scrap from the manufacture or
mechanical working of materials which is usable as such
because of breakage, cutting up, wear and tear and other
reasons)
The certificate of collection of tax at source has to be
submitted in Form No-27D by persons collecting tax at source
within a week from the last day of the month in which the
tax was collected.
If there is more than one certificate to be issued to a
buyer for tax collected at source with respect to the period
ending September 30 and March 31 in the financial year, then
the person collecting the tax on request from the buyer can
issue a consolidated certificate within one month from the
end of such period.
If an issued TCS certificate is lost, the person collecting
tax at source may issue a duplicate certificate on plain
paper, with necessary details as contained in Form-27D.
The Assessing Officer (AO), before giving credit for the tax
collected at source on the basis of the duplicate
certificate, has to get the payment certified and obtain an
Indemnity Bond from the assessee.
Licensing or leasing of Parking Lot, Toll Plaza
Mining and quarrying

Answer / anirudh

PAN NO. - STANDS FOR "PERMANENT ACCOUNT NUMBER".IT IS
ISSUED IN "10 DIGIT NUMBER" THROUGH Income Tax Department
for Deposit the income tax of the Assessee.

TAN NO. - STANDS FOR "TAX DEDUCTION / COLLECTION ACCOUNT
NUMBER". IT IS ISSUED IN "10 DIGIT NUMBER" THROUGH INCOME
TAX DEPARTMENT.IT ALLOWES THE AUTORITY TO DEDUCT THE 'TDS &
TCS' FROM THE CREDITOR & DEBTOR.

Answer / pankaj patel

Dear All

PAN is Permanent Account Number ie account number of the
assessee in the Income Tax department and every assessee
should have only one PAN.

TAN is the Tax-Deduction Account Number i.e. the account
number alloted by Income Tax dept. to the assessee who has
right to duduct tax at source on income(TDS) or collect at
source (TCS).

Answer / bhupinder singh

PAN -Permanent Account Number
TAN -Tax deduction Account Number

Both are issued by the Income Tax Department.
--------------PAN------------------
PAN for filling & deposit Income Tax
Advance Tax Date : 15 Sept, 15 Dec & 15 March
-------------TAN-----------------
is used for the purpose of Deduction of Tax at various
source of income which is given by the deductee such as
Rent, Commission & Brokerage, Interest, Professional fee,
Contract or sub contract and also
tax collected at source (sale of scrap & wastage)

TDS & TCS Returns are separately filed with the department
Q1- 15 July
Q2- 15 Oct.
Q3- 15 Jan.
Q4- 15 June

Answer / k n lakshmi

PAN NUMBER IS ALLOTTED BY INCOME TAX DEPARTMENT TO INDIVUDAL PERSON HO IS LIABLE TO PAY TAX AND HO CAN PAY SELF ASSESMENT TAX THROUGH THIS NUMBER.
TAN NUMBER IS ALLOTTED BY INCOME TAX DEPARTMENT TO ORGANISATION/ FIRM/ AUTONOMOUS BODIES HERE THERE ILL BE A DDO AND HE IS AUTHORIZED TO DEDUCT TAX AT SOURCE AND REMIT TO THE IT DEPT.THE AMOUNT DEDUCTED FROM SALARY OF THE ORGANISATION EMPLOYEES IS DEPOSITED THROUGH THE TAN NUMBER
HETHER BOTH THE NUMBERS - PAN AND TAN - CAN BE HAD IS STILL A DOUBT. IF A SUITABLE ANSER IS OBTAINED KINDLY MAIL ME

Answer / amit kumar

PAN is Permanent Account Number ie account number of the
assessee in the Income Tax department and every assessee
should have only one PAN.

TAN is the Tax-Deduction Account Number i.e. the account
no. alloted by incometax deptt.
Both the numbers are issued by the Income Tax Department

what is TDS

2 Answers  

Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.

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