Definition of Form 49B

In simple terms, Form 49B is an application form to receive the Tax Deduction and Collection Account Number.

Maybe you have heard the term ''Form 49B''. It is one of the most vital documents that every HR professional should keep on their fingertips. If you are not so clear with the concept of Form 49B, you have just landed in the right place for it.

Let''s dive in and start exploring!

What is Form 49B?

Form 49B is a crucial form 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).

A TAN can only be correctly obtained when one fills out Form 49B with the entire required information. A TAN is a must for anybody dealing with tax deduction at source (TDS) or tax collection at source (TCS).

Also, banks might not fulfill the payment to people who do not have a TAN. The people who deduct the tax and do not furnish the particulars also have to pay a penalty of Rs 10,000.

You may receive a TAN application by filling up Form 49B on the portal of the National Securities Depository Limited or on the UTI Infrastructure Technology and Services Limited website and send your application in PDF form.

Information of 49B

The information part of Form 49B is divided into various parts, and every part gathers information that helps in and backs up the successful application of TAN.

• Details of Office and Designation: This opening section captures the office and designation of the applicant. That makes it clear whether you''re a professional or just someone working to pay the bills.
• Residential Address: The second section requires full particulars of the residential address of the individual to ensure correct mail delivery.
• Nationality and PAN: The third section serves a dual purpose. It inquires about the applicant''s nationality, and second, if it appears to be necessary, also asks for the applicant''s PAN.
• Tax Deduction and Collection Account Numbers: As it moves next, sections require you to fill in both Tax Deduction Account Number and Tax Collection Account Number. These could be conceived to be major sources of identification in most countability matters.
• Data for Filing Form: There is a separate section below to collect details related to form submission. The date of submission, mode of submission, etc., should all be elaborated on here.
• Details to Assessing Officer: From here, information that relates to the details of the applicants concerning an Assessing Officer can be captured, and hence this makes it even easier to communicate in time.
• Personal Details: Details of assessing officer: The applicant needs to provide their personal details over here. This step is taken to state that the details provided earlier on this page were true.
• Declaration: The applicant will sign or put a left-hand thumb impression in the declaration space to affirm that details provided in Form 49B were true.

How to Apply Form 49B?

You will find Form 49B easy to apply for since you won''t have to be bothered with manually filling out all those forms.

Widespread digitization means easy and smooth filing.

With the walk-through over the web, it is very easy to obtain your tax-deductible TAN account number. This makes the process efficient and accessible.

How to Apply for Form 49B Through the NSDL Portal?

1. Access the NSDL Official Portal.
2. Apply for TAN Online (Form 49B).
3. Select the category of deductor from the drop-down.
4. A lot of item surface information has to be filled in Form 49B, such as the Assessing Officer code field, Area Code field and its Upper Range Code have to be filled.
5. Open the confirmation screen and check the details entered before clicking on the ""Confirm & Submit"" button.
6. Note down the 14 digit acknowledgement number which appears on the next page.
7. Attach an attestation of a thumb impression or sign in the space provided.
8. Take a printout of this form after filling all details.
9. Send these printed Form 49B with the sign or left thumb imprint duly attested to the NSDL office along with all necessary documents attached.
10. In case you are making an application by thumbprint, the same should be attested/tatt Legal/Local guardian appointed by district courts valid attestation of a classifier.

Following steps to apply Form 49B offline

1. Open the website of NSDL, downloaded form 49B.
2. Fill in all data related to the applicant. It should ensure that the evidence of each item submitted.
3. Declare what is being submitted is right in your best knowledge.
4. 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).
5. Go through 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

In case of an online application of Form 49B, the applicant should also post a print of the acknowledgement to the Income Tax Department. There are no specific documents that constitute an offline application.

And that''s it!

Now you have a very clear idea about Form 49B.