Tax Deduction and Collection Account Number (TAN) is a 10 digit number issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961. The person deducting the tax at source is required to deposit the tax deducted by quoting their TAN number. Form 49B is the application form which is to be filled for allotment of TAN with required documents. After allotment of TAN, entities are required to quote TAN before filing TCS/TDS returns.
n this age of fierce competition, everyone wants to expand their business from domestic market to international market. Enterprises can enter in global market either with existing product or new product. ” However before going global, you need to follow several procedures and laws place and get different registration and license. IEC (Import Export Code) license is one of such prerequisite when you’re thinking of importing or exporting from India.
In a developing country like India, MSME industries are the backbone of the economy. The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all industrial units of the country and more than 6000 types of products are manufactured in these industries