Free Consultation by Expert

Many thanks to Setbharatbiz. We had an excellent experience working with its expert. They have a strong sense of professionalism when dealing with clients.

Mudassir CEO, Twinfinty DigiTech Solutions

We would recommend Setbharatbiz incorporation services to any founder without a second doubt. The process was beyond efficient and shows Setbharatbiz founder's vision

Nagasrinivas Director,Prakash Nagasrinivas & Saradhy Associates

I was searching for a company for assistance in the incorporation services. Then one of my friend tell me about Setbharatbiz and definitely the Setbharatbiz is the best.

Prakash Kakani Director, PNS EV Hub

Overview

PAN and TAN Registration for Religious Institutions

PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are essential for religious institutions, trusts, and NGOs to comply with the Income Tax Act, 1961. While PAN is required for filing income tax returns and maintaining financial transparency, TAN is mandatory for deducting and remitting TDS (Tax Deducted at Source). Both registrations ensure the institution adheres to tax regulations and manages its financial operations lawfully.

Importance

1. PAN Registration :

  • Necessary for filing income tax returns.
  • Required for obtaining 12A and 80G registrations.
  • Essential for opening a bank account in the institution's name.

2. TAN Registration :

  • Mandatory for deducting TDS from payments like salaries, professional fees, and contractor payments.
  • Ensures compliance with TDS remittance rules.
  • Prevents penalties for non-compliance with tax regulations.


Documents Required

For PAN Application


For TAN Application



Features

Features & Benefits of PAN and TAN Registration for Religious Institutions

Compliance with Tax Laws
PAN ensures income tax filing, and TAN ensures proper TDS compliance.
Prev Next
Requirement for Financial Operations
Necessary for banking, filing returns, and receiving donations.
Prev Next
Government Recognition
Strengthens the institution’s credibility and transparency.
Prev Next
Facilitates Donations
PAN is essential for offering tax benefits under 80G.
Prev Next
Avoids Penalties
Ensures adherence to tax laws and prevents fines for non-compliance.
Prev Next

PAN and TAN Registration for Religious Institutions

Ease of Fund Management
Simplifies financial and taxation processes.
Prev Next
Online Application Process
Both PAN and TAN can be applied online for convenience.
Prev Next
Universal Applicability
PAN serves as a universal identification number for all tax-related activities.
Prev Next
Mandatory for 12A/80G and FCRA
PAN is a prerequisite for obtaining these registrations.
Prev Next
Cost-Effective
The application process is straightforward and involves minimal costs.
Prev Next


Comparison of PAN and TAN

Feature PAN TAN
Purpose Income tax identification Deduction and remittance of TDS
Applicability For all tax-related activities For organizations liable to deduct TDS
Required For Filing income tax returns Deducting TDS on payments
Format 10-digit alphanumeric code 10-digit alphanumeric code
Authority Income Tax Department Income Tax Department
Filing Requirement For income and tax return filing For filing TDS returns


Frequently Asked Questions

What is the difference between PAN and TAN?

PAN is used for tax filing and identification, while TAN is required for TDS deduction and remittance.

Is TAN mandatory for religious institutions?

Yes, if the institution deducts TDS on salaries, professional fees, or contractor payments.

Can a trust apply for PAN online?

Yes, the application can be submitted through the NSDL or UTIITSL portals.

What is the timeline for receiving PAN and TAN?

PAN and TAN are typically issued within 7-15 days of application.

Is there a fee for PAN and TAN registration?

Yes, a nominal fee is charged during the application process.

What happens if a trust doesn’t obtain TAN?

Non-compliance may result in penalties and interest on unpaid TDS.

Is PAN required for FCRA registration?

Yes, a valid PAN is mandatory for FCRA registration.

Can one PAN be used for multiple institutions?

No, each institution must have its unique PAN.

How does TAN work for TDS?

TAN is used to deduct TDS, remit it to the government, and file TDS returns.

What documents are needed for updating PAN or TAN?

Updated registration certificate, identity proof of trustees, and a copy of the existing PAN or TAN.

PAN & TAN Registration

Overview

PAN and TAN Registration for Religious Institutions

PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are essential for religious institutions, trusts, and NGOs to comply with the Income Tax Act, 1961. While PAN is required for filing income tax returns and maintaining financial transparency, TAN is mandatory for deducting and remitting TDS (Tax Deducted at Source). Both registrations ensure the institution adheres to tax regulations and manages its financial operations lawfully.

Importance

1. PAN Registration :

  • Necessary for filing income tax returns.
  • Required for obtaining 12A and 80G registrations.
  • Essential for opening a bank account in the institution's name.

2. TAN Registration :

  • Mandatory for deducting TDS from payments like salaries, professional fees, and contractor payments.
  • Ensures compliance with TDS remittance rules.
  • Prevents penalties for non-compliance with tax regulations.


Documents Required

For PAN Application


For TAN Application



Features

Features & Benefits of PAN and TAN Registration for Religious Institutions

Compliance with Tax Laws

PAN ensures income tax filing, and TAN ensures proper TDS compliance.

Requirement for Financial Operations

Necessary for banking, filing returns, and receiving donations.

Government Recognition

Strengthens the institution’s credibility and transparency.

Facilitates Donations and Contributions

PAN is essential for offering tax benefits under 80G.

Avoids Penalties

Ensures adherence to tax laws and prevents fines for non-compliance.

Ease of Fund Management

Simplifies financial and taxation processes.

Online Application Process

Both PAN and TAN can be applied online for convenience.

Universal Applicability

PAN serves as a universal identification number for all tax-related activities.

Mandatory for 12A/80G and FCRA

PAN is a prerequisite for obtaining these registrations.

Cost-Effective

The application process is straightforward and involves minimal costs.



Comparison of PAN and TAN

Feature PAN TAN
Purpose Income tax identification Deduction and remittance of TDS
Applicability For all tax-related activities For organizations liable to deduct TDS
Required For Filing income tax returns Deducting TDS on payments
Format 10-digit alphanumeric code 10-digit alphanumeric code
Authority Income Tax Department Income Tax Department
Filing Requirement For income and tax return filing For filing TDS returns


Frequently Asked Questions

What is the difference between PAN and TAN?

PAN is used for tax filing and identification, while TAN is required for TDS deduction and remittance.

Is TAN mandatory for religious institutions?

Yes, if the institution deducts TDS on salaries, professional fees, or contractor payments.

Can a trust apply for PAN online?

Yes, the application can be submitted through the NSDL or UTIITSL portals.

What is the timeline for receiving PAN and TAN?

PAN and TAN are typically issued within 7-15 days of application.

Is there a fee for PAN and TAN registration?

Yes, a nominal fee is charged during the application process.

What happens if a trust doesn’t obtain TAN?

Non-compliance may result in penalties and interest on unpaid TDS.

Is PAN required for FCRA registration?

Yes, a valid PAN is mandatory for FCRA registration.

Can one PAN be used for multiple institutions?

No, each institution must have its unique PAN.

How does TAN work for TDS?

TAN is used to deduct TDS, remit it to the government, and file TDS returns.

What documents are needed for updating PAN or TAN?

Updated registration certificate, identity proof of trustees, and a copy of the existing PAN or TAN.

Related Services