1. #1
    Unregistered

    What is the significance of TIN number?

    I am old wholesale dealer of electronic gadgets and accessories. A friend of mine suggested to apply for TIN number. I want to know what is this TIN number and what is its significance?

  2. #2
    realfriend Array
    Join Date
    Jul 2013
    Posts
    64

    Re: What is the significance of TIN number?

    Hello,
    1)TIN means taxpayer Identification number. It is a nine-digit number used as a tracking number by the IRS for tax purposes. Tax ID numbers are read as XX-XXXXXXX. This number is required information on all tax returns filed with the IRS.
    2)A taxpayer Identification number (TIN) is an employer identification number assigned by the Internal Revenue Service (IRS) when registering a company to do business in the United States.
    Thanks.......................

  3. #3
    bonomali Array
    Join Date
    Feb 2013
    Posts
    984

    Re: What is the significance of TIN number?

    Hello Friend,


    TIN stands for Tax Payer's Identification Number. It is issued by the Commercial Tax
    Department of each state. TIN is a 11 digit number and it is used to identify dealer's
    registered under VAT.

    TIN number registration is mandatory for manufacturers, dealers, traders and exporters.

    Bye,

  4. #4
    Ritz Array
    Join Date
    Jun 2013
    Posts
    381

    Re: What is the significance of TIN number?

    A TIN number is a nine digit Taxpayer Identification number which is issued by the IRS (Internal Revenue Service) and is used by the IRS to track tax records of businesses. This number is needed when you apply for Tax Return. A TIN is also required on a withholding certificate if you are claiming any of the following:
    • Tax treaty benefits (other than for income from marketable securities)
    • Exemption for effectively connected income
    • Exemption for certain annuities

  5. #5
    Rituja Array
    Join Date
    Nov 2012
    Posts
    702

    Re: What is the significance of TIN number?

    TIN stands for Tax Payer's Identification Number (TIN).It is basically is an unique registration number that is used for identification of dealers registered under VAT. It consists of 11 digit numerals applicable throughout the country.TIN is being used for identification of dealers in the same way like PAN is used for identification of assesses under Income Tax Act. You have mentioned in your post that you are an old wholesale dealer of electronic equipment's, but you have not mentioned whether your are registered under VAT or Central Sales Tax. If not, when you apply for it, you will be allotted with a new TIN as registration number, however every State Commercial Tax Department have made provisions to issue new TIN to their existing dealers replacing old registration/ CST number.

  6. #6
    Boss Array
    Join Date
    Jul 2012
    Posts
    1,649

    Re: What is the significance of TIN number?

    TIN symbolizes Levy Payer's Recognition Number (TIN).It is defined as is usually an distinctive in order to register quantity currently in use intended for detection regarding retailers signed up underneath VAT. The item includes 11 digit numerals appropriate through the country.TIN is actually being utilized intended for detection regarding retailers in the same manner like PAN is actually employed for detection regarding assesses underneath Salary Levy Act. You might have pointed out with your site that you are a well used from suppliers supplier regarding electronic equipment's, nonetheless you've not pointed out whether or not you're signed up underneath VAT as well as Core Gross sales Tax. In any other case, while you apply for doing it, you'll be allocated once you get your TIN since in order to register quantity, nonetheless every single Declare Industrial Levy Unit have elected specifications to be able to matter innovative TIN with their existing retailers upgrading old registration/ CST number.
    Some sort of TIN quantity is often a 9 digit Taxpayer Recognition quantity which happens to be from the particular IRS (Internal Income Service) and is particularly used with the IRS for you to trace income tax records regarding businesses. That quantity should be applied while you apply intended for Levy Return. Some sort of TIN is usually essential with a withholding certificate should you be professing any of the:
    Levy treaty benefits (other compared to profits from marketable securities)
    Exemption intended for effectively linked profits
    Exemption for certain annuities
    TIN symbolizes Levy Payer's Recognition Number. It's from the particular Industrial Levy
    Unit for each state. TIN is often a 11 digit quantity which is used to find dealer's
    signed up underneath VAT.

    TIN quantity in order to register is mandatory intended for brands, retailers, traders and exporters.

  7. #7
    senorita Array
    Join Date
    May 2013
    Posts
    19

    Re: What is the significance of TIN number?

    Hello Friend ,

    WHAT IS TIN NUMBER :

    TIN Number stand for Tax Payer Identification Number , or Federal Taxpayer Identification Number. A TIN may be assigned by the Social Security Administration or by the Internal Revenue Service (IRS).

    SIGNIFICANCE OF TIN NUMBER :

    The number is important and it is used for identification of dealers registered under vat , As you have said that you are dealer so its important for you , so do register your self as soon as possible .

    THANK YOU !

  8. #8
    john215 Array
    Join Date
    Jan 2013
    Posts
    796

    Re: What is the significance of TIN number?

    Re: What is the significance of TIN number?

    Hi friend,

    I think TIN stands for Tax Payer's Identification Number.
    It is issued by the Commercial Tax Department of each state.
    TIN is a 11 digit number and it is used to identify dealer's registered under VAT.
    TIN number registration is mandatory for manufacturers, dealers, traders and exporters.

    Thanks!!!
    all the best.............

+ Reply to Thread

Similar Threads

  1. What is EPFO and what is its significance?
    By Unregistered in forum Professional Discussions
    Replies: 3
    Last Post: 02-09-2013, 06:21 PM
  2. Can I re-submit the tax return to change the ITIN number with SSN number?
    By Unregistered in forum Professional Discussions
    Replies: 1
    Last Post: 17-12-2012, 07:36 PM