PAN/TAN  Surrender

PAN Stands for Permanent Account Number and TAN stand for Tax Deduction and Collection Number. Startupfino helps businesses to surrender their PAN or TAN Number.

Call Us +91 96253 06150

Consultation By Expert

I agree to receive the brochure on

Whatsapp

Need to speak to an expert? Get Free Consultation

Talk to an Expert

Speak to a financial expert today to learn how virtual CFO services can help your business succeed.

Registering Protecting
Startups
Looking For
Compliances Fundraising
Licenses
card-pic.jpg

Richa Singh     Online

Expertise In PAN/TAN Surrender

4.7
Call Now
Chat Now

Overview

PAN Stands for Permanent Account Number and TAN stand for Tax Deduction and Collection Number. Requirement to surrender PAN or TAN arises in the below circumstances:

Individual/Proprietor:

  • When an individual/proprietor having more than one PAN or TAN, he needs to surrender the additional/extra PAN Or TAN.
  • In case death of individual/Proprietor.

Partnership Firm/Company

  • If the Partnership firm is being dissolved then the PAN, TAN issued in the name of the firm needs to be surrender.
  • In case the Company is being Liquidated or Shut down, then the PAN,TAN issued in the name of the Company shall be surrender.

Benefits of Surrender

  • Saving Penalties: In case the assessee are having more than one PAN/TAN, whether acquired intentionally or not then it is against the law since the assessee cannot hold more than one PAN/TAN. The officer may levy a penalty of Rs 10,000 under the Act on the assessee. Therefore, in such case the assessee need to surrender immediately the additional PAN/TAN.

Process to surrender PAN

In Case of Individual having Additional PAN

  • The assesse shall make an application “online” through NSDL website in form PAN change request form. In the form, the PAN you are using mention on the top and all the additional PAN in the point 11 of the application form along with the copy of PAN. An application number will provided after filing of application and additional PAN shall be cancelled within 15 days.

 In case of Death of an Individual/Proprietor

  • In case of death of person, the PAN card shall be surrendered by the legal heirs of the deceased person. The legal heirs of the deceased shall make an application “offline” to the concerned AO in the prescribed form for cancellation of PAN along with letter to AO having detail of deceased like name, DOB, PAN number, PAN card copy and death certificate copy.
  • If the deceased was the tax payer then the legal heirs first file the ITR on behalf of deceased and pay all the taxes before making an application to AO for cancellation of PAN.

 In case of Partnership Firm/Company

  • In case the partnership firm being shut down/dissolved then the PAN needs to be surrendered. The partner of the firm shall make application/letter to their Assessing Officer for cancellation of PAN due to dissolution of the Firm.
  • The Dissolution Deed (if registered then better) along with the Copy of PAN card shall be enclosed with the application/letter.
  • In case the Company is liquidated then the director shall make application/letter to AO for cancellation of PAN along with Liquidation proof and copy of PAN card.

Process to surrender TAN

In case of Additional TAN

  • In case the assesse having additional TAN, he shall make application “online” through NSDL in TAN change request and mention the TAN that need to be cancelled in item no 6.
  • The assesse need to upload the copy of additional TAN along with the Form and wait for upto 15days after receiving the acknowledgement.

In Case TAN is not required anymore:

  • Further, before making an application to the concerned officer the assessee need to ensure that all TDS/TCS return has been filed and there are no dues pending on him.
    In case the assessee need to make an application “offline” to the Assessing Officer(TDS) mentioning the nature of activity that was being carried out, Detail of TAN, Reason for discontinuance of business activity etc.
  • Copy of TAN, Last return acknowledgement and screenshot of no demand shall be enclosed with the application.

FAQs

The application can’t be withdrawn by our self, it can be rejected by the department/officer.

PAN and TAN are two different things for the asseseee in all scenario. Therefore, an assessee needs to make a separate application for cancellation of TAN.

Spice stands for Simplified Proforma for Incorporating Company Electronically. It is the mechanism to promote the Ease of Doing Business via simplifying the procedure of formation of company.

No, in such case you need to fill the application for change/amendment and the PAN number shall be same.
Free Consultation By Expert
I agree to receive the brochure on

Whatsapp

Need to speak to an expert? Get Free Consultation

StartupFino Advisory Services

StartupFino manages legal, financial & Compliance services through its team of professionals with the help our own technology.

StartupFino QR code

Scan this QR Code...

advisory_Services_img

Visit our Blog

Company Registration

What are the Documents Required for Indian Subsidiary Company Registration?

November 28, 2023

The registration of an Indian subsidiary company in India is a strategic move that opens doors to the vast and dynamic Indian market. …

More >
NIDHI Company

Why NIDHI Company Cannot Operate Like NBFC in India?

November 28, 2023

The differentiation between Nidhi Companies and Non-Banking Financial Companies (NBFCs) within the Indian financial landscape extends beyond mere naming conventions.

More >
Business Consultant

Hiring Business Consultant For Startups

November 28, 2023

Embarking on a fresh entrepreneurial journey is both invigorating and demanding. Although entrepreneurs are frequently brimming with enthusiasm ...

More >
View More Articles

Startups Looking to Connect with us?

Get Started

We also help you market your products through an online marketplace.

Chat with Us

Fill up contact form

Expert will call you

Payment-icon

Make online payment

Get Services

500+ Startups Trust Us

startup fino startup fino

An award-winning

Based on 500+ customer reviews.

award

Best Virtual CFO Of The Year 2023

Startupfino has been awarded as the Best Virtual CFO of 2023 held at Global Startup and Entrepreneurship Conclave 2023. It was decisive to get recognition as a startup in this competitive industry.

award

Best Tax and Legal Compliance Management Agency

Startupfino is honoured to recognise as a Best Tax and Legal Compliance Management Agency in the India Stratup Summit and Startup Achievers Awards 2022.

award

Best Financial Advisor Agency

Startupfino is honoured as a Best Financial Advisor Agency at the World Startup Convention 2023. This acknowledgment shows commitment towards delivering innovative solutions.

10+ years of success

Startupfino is working with Startups since last 10 years with an unparalleled experience of helping fast growing startups. Our Success can be witnessed through the numbers given below.

counter_img_mob.jpg

0

Startups

0

Projects Completed

0

Office Location

0

Client Retention