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of <h1>Mandatory TAN for Tax Deduction: Non-Compliance Penalty of Rs. 10,000 Under Income-tax Act Section 272BB.</h1> Under Section 203A of the Income-tax Act, 1961, any person responsible for deducting or collecting tax at source must apply for a Tax Deduction and Collection Account Number (TAN). It is mandatory to quote TAN in TDS/TCS returns, payment challans, certificates, and other prescribed documents. Non-compliance, such as failing to apply for TAN or not quoting it in required documents, results in a penalty of Rs. 10,000 as per Section 272BB.
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