Tax Information Network (TIN) is an initiative from the Tax Department of India (ITD) for the modernisation of the current system for collection, processing, monitoring and accounting of direct taxes using information technology. This is a step taken to file and get information on Tax easily without much hassles. This measure was established by National Securities Depository Limited (NSDL) on behalf of ITD.
However, not many people know about this process, so lets have a brief look on what is it about and how is it helpful.
Once you create an account the system will link to banks, ITD and tax payers, deductor. You need to register with one of the TIN centres empanelled and can visit https://www.tin-nsdl.com/index.php
Tax deducted at source (TDS) and advance tax payments can be monitored through TIN
Through permanent account number (PAN) data can be fetched on tax payers filing returns.
Money laundering and the flow of Black money can be tracked.
TIN has three sub system
Electronic Return Acceptance and Consolidation System (ERACS) consists of an infrastructure for interface with the taxpayers (a nation wide network of TIN-Facilitation Centres i.e.TIN-FC) and a web-based utility for upload of electronic returns of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) and Annual Information Return (AIR) to the central system of TIN.
Online Tax Accounting System (OLTAS) for daily upload to the central system, the details of tax deposited in various tax collecting branches across the country.
Central PAN Ledger Generation System (CPLGS) which is the central system that consolidates for each PAN:
Details of tax deducted/collected on its behalf (TDS/TCS) which is obtained by matching the TDS/TCS returns submitted by the deductors/collectors with the tax deposit (challan) information from the banks and details of the tax deposited directly by the taxpayer with the bank.
TIN provides the following Online Services through this website:
- Facility for a PAN holder to view the details of tax deducted/collected on its behalf and also tax paid by itself
- Facility for deductors to verify status of e-TDS/TCS statements submitted to TIN-FC or online at this website by providing TAN and respective provisional receipt number (PRN)
- whether challans in statements have been matched with challans uploaded by banks
- Number of deductees whose PAN accounts have been booked
- Line number of deductees in statements whose PAN accounts could not be booked
- whether a specific PAN account has been booked
- Facility to submit TDS/TCS statements and related correction statements through internet.
- Facility to submit Annual Information Returns (AIR) and related supplementary returns through internet.
- Facility to pay tax online, wherein the taxpayer can fill up and submit the challan through Internet. The tax payer has to necessarily have a bank account with net banking facility in any of the stipulated banks.
- Facility for tax payers to enquire online about the status of challans deposited in banks
- Facility to apply for PAN online
- Reprint of PAN card with existing/revised details
- Facility to apply for TAN online
- Reprint of TAN allotment letter with existing/revised details
- Facility to register as an e-Return Intermediary (e-RI). An e-RI is an entity authorised by ITD to electronically file income tax returns on behalf of tax payers.