8 Blunders to Avoid While Filing Tax Returns


2. Not Providing TAN number

Failure to quote the TAN number can lead to a fine of 10,000. Banks will not receive TDS Returns and Payments if the TAN number is not mentioned.

Quoting TAN number in all communications with the Income Tax Department is mandatory for all assessees liable to deduct TDS as per section 203A of the Income Tax Act 1961. Fortunately, TAN number can be easily applied for online at just 62. Hence be sure of filing your TAN number properly.