Here is How PAN is Different from VAT, TIN, TAN and DIN?
The terms such as PAN, VAT, TIN, DSC, DIN, and TAN are closely
related to business. PAN is a unique code which acts as
identification of tax-paying individuals. It is issued to all
individuals under the Income Tax Act of 1961 and all the taxpayers in
the country should possess the unique number for various financial
transactions. The PAN number will contain the history of all such
transactions done by an individual in its account.
You can apply for pan card online or offline, if you have applied but
did not received hard copy, you can check your PAN
card status online.
VAT or TIN is tax identification payer number given by the tax
department of respective state governments to perform VAT related
transactions. TIN is required for dealers under the VAT registration.
DSC (Digital Signature Certificate) acts as a proof of identity for
electronic and online transactions. These are used by several
departments such as the income tax department, foreign trade, and
employee provident fund. They are used to file income tax returns or
to register a company.
DIN (Director Identification Number) on other hand is issued to the
directors of companies. It is unique identification number given to
them which has all the personal information of the director. However,
one needs to apply for DSC before getting DIN.
Now Lastly what
is TAN?, TAN stands for Tax Deduction and Collection Account
Number. All business entities which require to deduct tax will
require a TAN number. The company is required to use this number for
all their tax deductions, collections, and payments of tax made under
their roof. A penalty will be imposed in case the business does not
possess this number.
January 25th, 2019