Multiple choice

Which of the following is the correct expansion of TAN?

  1. Transaction Accounting Number

  2. Tax Deduction and Collection Account Number

  3. Tax Account Number

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

All those who are responsible for tax deduction at source or tax collection at source have to apply for and obtain a tax deduction and collection account number, a 10 character alpha-numeric number, which is required to be quoted on transactions involving TDS/TCS.

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