Form 49B Definition
Form 49B, in simpler words, is an application form for receiving a Tax Deduction and Collection Account Number (TAN).
You may have heard of the term ‘Form 49B’. It is one of the most vital documents every HR professional must know about. If you do not have a clear understanding of Form 49B, you are just at the right place.
Let’s dive in and start exploring!
Here, we will discover:
- What is Form 49B?
- Contents of Form 49B
- How to Apply Form 49B?
- How to Apply for Form 49B Through the NSDL Portal?
- How to Apply for Form 49B Through Offline?
- Documents Required for Form 49B
What is Form 49B?
This income tax form is a must under Section 203A of the Income Tax Act 1961.
One needs to have this form to get a Tax Deduction and Collecting Account Number (TAN).
The only good way to get a TAN is to fill out Form 49B completely. A TAN is necessary for people involved in tax deduction at source (TDS) or tax collection at source (TCS).
Banks may refuse payment fulfilment to non-TAN holders. Also, non-TAN applicants who make tax deductions are liable for a penalty of Rs 10, 000.
You can apply for a TAN by filing Form 49B using the National Securities Depository Limited portal or the UTI Infrastructure Technology and Services Limited site and sending in your application in PDF.
Contents of Form 49B
The details section of 49B is divided into distinct compartments, each of which collects knowledge helping successful application for TAN.
- Office and Designation Details:
The opening section captures the office and designation of the applicant. This makes it clear whether you’re a professional or just someone working to pay the bills.
The second section needs full particulars about the residential address of the individual, to assure accurate mail.
The third section has two functions. It asks for information on the applicant’s nationality and possibly if need be their PAN (Permanent Account Number).
- Tax Deduction and Collection Numbers:
Subsequent sections prompt you to include both Tax Deduction Number and Tax Collection Number – crucial identifiers in taxation processes.
Following this, there is a dedicated section to get information about your submission of the Form. The date and mode of submission and so on should all be clarified here.
- Assessing Officer Details:
Applicants’ details regarding an assessing officer are required here and thus facilitate timely communication.
After details about the assessing officer, applicants must supply their personal details herein. This is to confirm that the information given above was correct.
As a final step, the applicant is required to provide a signature or left thumb impression, serving as a declaration of the authenticity of the information submitted in Form 49B.
How to Apply Form 49B?
You will find that Form 49B is very easy to apply for when you don’t have to fill in all those pesky forms by hand.
The widespread digital approach makes submission easy and smooth.
You can complete the tax-deductible TAN account number application by using an online walk-through with no trouble at all. That makes the process efficient and accessible.
How to Apply for Form 49B Through the NSDL Portal?
Follow these steps to apply for Form 49B with Lidui through the NSDL Portal:
- Go to the official NSDL Portal.
- Select Online Application for TAN (Form 49B).
- Select your deductor category from the drop-down menu.
- Fill in Form 49B with many item surface information, such as the Assessing Officer code field, Area Code field and its Upper Range Code must be filled in.
- Review the details you entered on the confirmation screen and click “Confirm & Submit.”
- Note down the 14-digit acknowledgement number that appears on the next page.
- With an attestation of a thumb impression or signature, take a print-out of this form.
- Send the printed Form 49B with the sign or left thumb imprint to the NSDL office, having all necessary documents attached.
Remember that if you use a thumbprint, it must be attested by a Magistrate or Gazetted Officer.
How to Apply for Form 49B Through Offline?
Follow these steps to apply for Form 49B offline:
- Open the NSDL portal and download Form 49B
- Input all the applicants’ personal information. Make sure you provide evidence of every item.
- Convey that the information you have supplied is accurate.
- Write the date, time and place; then sign as proof of your affirmation or make a thumbprint (attested by a magistrate or gazetted officer in the case of thumbprints).
- Go over all your details. You can submit the form and needed material at your nearest NSDL ( or UTIITSL) office for handling. A paper route is on offer to those applicants who find online submission difficult.
Documents Required for Form 49B
If the applicant has applied for Form 49B online, s/he should also send a print of acknowledgement to the Income Tax Department. If it is done offline, then no specific documents are required.
There you go!
We hope you have a clear understanding of Form 49B.