TAN requirement: mandatory registration and quoting for tax deduction and collection documents, noncompliance attracts penalty.

Mandatory allotment and quoting of TAN is required for every person who deducts or collects tax at source, including mandatory inclusion in TDS/TCS returns, payment challans, certificates and other prescribed documents; failure to apply for TAN or to quote it in specified documents attracts a statutory penalty under the Income tax Act.

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