Business Registration and Compliance Quiz

Business entity registration is essential for:

• Personal savings

• Government employment

• Legal recognition of a business

• Social media presence

Which document is mandatory for all businesses earning taxable income in India?

• Aadhaar

• PAN

• Driving license

• Passport

PAN stands for:

• Personal Account Number

• Permanent Account Number

• Public Account Notation

• Primary Access Number

PAN is issued by:

• Ministry of Commerce

• Reserve Bank of India

• Income Tax Department

• Ministry of Finance

Linking PAN with Aadhaar is:

• Optional

• Not required

• Mandatory

• Limited to NRIs

TAN is required for:

• Filing income tax returns

• Deducting TDS

• Opening a bank account

• Applying for GST

TAN stands for:

• Tax Access Number

• Total Account Name

• Taxpayer Account Number

• Tax Deduction and Collection Account Number

Persons liable to apply for TAN include:

• Freelancers

• Individuals not deducting TDS

• Entities deducting tax at source

• Retail consumers

TAN is issued by:

• SEBI

• GST Council

• Income Tax Department

• Ministry of Corporate Affairs

TAN application can be filed using:

• Form 49A

• Form 16

• Form 49B

• Form GST REG-01