PAN (Permanent Account Number)
PAN is a unique number that allows linking of all transactions with the Income Tax Department, including tax payments of TDS, returns, specific transactions, corrospondence, etc. It is also a mandatory document for opening of bank account.
TAN (Tax deduction Account Number)
TAN is a unique number that is mandatory to be obtained only those who are responsible for deducting or collecting tax at source.
Promoting the ease of doing business, Companies and LLPs in India need not file a separate form for obtaining PAN and TAN, it is generated at the time of incorporation of the entity.
Further, in case of setting up business in India as a foreign company, such as branch office, project office or liasion office, a separate application is required to be made to the income tax authorities.
Documents required for Project Office/ Branch Office/ Liasion Office
We at CorpAcumen Global assist you in obtaining PAN and TAN with ease while setting up your business.