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Tax Identification Number (TIN) - The Detailed Guide

29-09-2022 |

In the past, tax* collection was as strenuous as paying taxes and filing tax* returns. But with time, not only did the whole process move online but also different means of following and tracking the various processes were introduced by the Government of India and the Income Tax Department of India.
 

Since a chunk of the country’s revenue comes from taxes, it became necessary to account for the various businesses and their tax*-related information through a singular source. Therefore, the Tax Identification Number (TIN) was introduced and ever since it has become an important mechanism for monitoring taxpayer transactions throughout the country.
 

Read ahead to know more about the Tax* Identification Number and its relevance in the taxation framework.
 

What is the TIN Number in Income Tax*?
 

TIN number meaning Tax* Identification Number, forms a part of the "Tax Information Network" initiative that was introduced by the Income Tax* Department of India. With the introduction of TIN, the collection, accounting and processing of direct taxes has completely moved online and become hassle-free.
 

With the Tax* Identification Number, the Indian Government can have a single source for all tax-related data and information that is easily accessible. This number helps build a structure where it becomes more convenient to track taxpayers and their sources of income and leads to greater transparency and accountability.
 

According to the Tax Department of India, registering for a TIN number is essential if you want to sell a product or service as a new business owner or are a manufacturer or trader.
 

What is the Importance of the TIN Number?
 

The Taxpayer Identification Number in India is important since it integrates and collates all the essential tax-related information under a single channel. This makes it easier for the Income Tax Department to identify the assets under the Income Tax* Act during the tax* collection process.
 

Businesses and enterprises should have a TIN number if they are involved in a trade or in the manufacturing or import/export or sale and purchase of goods and services.
 

The information related to any business or enterprise is made available to the state government where the business is located. This helps organise the interstate as well as intrastate transactions that are to be tracked.
 

TIN Registration Process

 

  • If the business is an eligible entity, it can register for the TIN online with NSDL by filling and out submitting the registration form. The applicant can then view the acknowledgement that comprises a 15-digit acknowledgement number.
  • Save and print this acknowledgement as you will need to sign it correctly and then forward it to NSDL with the proof of eligibility, the certificate of due diligence and the application fee of ₹ 4,600. This payment can be made by cheque or demand draft.
  • Ensure that you have the following documents with you – the applicant’s ID proof, the proprietor’s PAN card, proof of address and 6 passport-size photographs.
  • Additionally, you will also have to submit the address proof of the business location, an invoice of the first sale/purchase, a copy of the Lorry Receipt (LR) or Goods Receipt (GR) and proof of payment or collection along with a bank statement. You may also have to provide a reference in some instances.
  • NSDL sends a user ID and password to your registered email ID (on the application form) once all the details are submitted and payment has been completed.
  • Next, log in to the Income Tax* Department and start the data transmission test with the help of the instructions. Once the test is completed, you will be able to file e-returns with the help of a unique e-Return Intermediary Identification Number (ERIIN) and password. You will be updated about your application status via email.
     

Taxpayers can upload the TDS(Tax deducted at source) returns and Annual Information Return (AIR) to the central system of TIN with the help of the Electronic Return Acceptance and Consolidation System (ERACS). They can also access tax*-related information from all over the country on the Online Tax* Accounting System.
 

How Can I Get the TIN Number Online?
 

You can apply for the Tax* Identification Number online or offline, just like it is in the case of the PAN card. Offering the option of applying either online or offline gives applicants the liberty to choose one at their convenience. The authority which provides TIN to registering entities is the Commercial Tax* Department of a state. When submitting VAT (Value Added Tax*), the TIN is mandatory, and so it is automatically provided during the registration. This helps the authorities track the transactions carried out by businesses throughout India.
 

Since the TIN is provided by the state government, the application process and the documents required will differ from state to state.
 

How to Apply for TIN?

  

You can get the application form from the TIN Facilitation Centres or PAN centres.. Once the final acknowledgement is displayed on the screen, be sure to print and save a copy:
 

Application Procedure

  • An applicant will have to fill out the form and submit it.
  • Correct any mistakes and re-submit the form if needed.
  • All the confirmed data as provided by the applicant will be shown.
  • The applicant can edit the data or go ahead with the confirmation.
     

Acknowledgement

Once confirmed, the acknowledgement will be shown to the applicant, which comprises:
 

  • The name and status of the applicant
  • A unique 11-digit acknowledgement number
  • The applicant’s address, e-mail and telephone number
  • A space for the signature
  • Payment details
     

Payment

  • The charge for processing the TIN application will vary according to the state where the application will be being processed.
  • The payment can be made through demand draft, cheque, credit card/debit card or net banking.
     
Conclusion
 

When registering for a Tax* Identification Number, there may be a common confusion between the TIN number and the PAN number. However, they are not the same, and when you register for the TIN, you will need to submit PAN details. In the case of businesses, the Tax* Identification Number is present on all the invoices raised by the enterprise and may also be known to the seller. Another way to know the TIN is to search the TIN number database by visiting https://www.tinxsys.com



L&C/Advt/2022/Sep/2328

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A joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA), Tata AIA Life Insurance is one of the leading life insurance providers in India. We post everything you need to know about life insurance, tax savings and a variety of lateral topics such as savings and investments in this space. You can access and read a host of different blogs, articles and pages at the Tata AIA Life Insurance Knowledge Center or get in touch with us with any queries or questions!

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Frequently Asked Questions

Who issues the TIN number?

The TIN number is issued by the Commercial Tax* Department of the state where the applicant wants to register for the TIN number.

What are the documents required for TIN?

You will need:
 

  • The proof of registration
  • PAN Card
  • The owner's ID proof
     

These documents will vary as per the state where the business or entity files the application

Disclaimers

  • Insurance cover is available under the product.
  •  The products are underwritten by Tata AIA Life Insurance Company Ltd.
  • The plans are not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
  • For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
  • This blog is for information and illustrative purposes only and does not purport to any financial or investment services and do not offer or form part of any offer or recommendation. The information is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
  • Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company.
  • Every effort is made to ensure that all information contained in this blog is accurate at the date of publication, however, the Tata AIA Life shall not have any liability for any damages of any kind (including but not limited to errors and omissions) whatsoever relating to this material.
  • *Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implications mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you

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