Full-Form Of TIN | What is the  TIN Full Form 

By | September 8, 2023
TIN Full-Form | What is Taxpayer Identification Number (TIN)

Edumantra has the best explained Full form Of TIN. Take advantage of freely available TIN full form at our website. Remain full of knowledge of TIN meaning. We would like to tell that the full form of TIN is Taxpayer Identification Number. 

TIN — Taxpayer Identification Number

TIN Full-Form refers to the Taxpayer Identification Number. TIN is a unique code generated by a computer, and every citizen who pays the tax is allocated this number.

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The TIN is used for identifying taxpayers for all tax purposes and additional revenue liabilities like income tax on personal income, capital gains tax, customs duties, property tax, GST or Goods and Services Tax, corporation tax, non-tax revenues and excise duties. All dealings and transactions associated with the NRA or National Revenue Authority also need TIN for identification purposes.

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TIN  Full-Form | What is Taxpayer Identification Number (TIN)

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TIN helps in improving customer services and makes it simple for any individual to perform businesses with the National Revenue Authority of the US. It also assists in ensuring that the processing of the tax returns takes place efficiently. Another function of this identification number involves the creating and maintenance of accurate files pertaining to the taxpayers. It provides help in tracking the tax evaders and broadens the tax base. It also increases tax revenues without increasing the rates of taxes.

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A TIN may include an ITIN or Individual Taxpayer Identification Number, a PTIN or Preparer Tax Identification Number, and SSN or Social Security Number, an EIN or Employer Identification Number, etc. The SSN or Social Security Number is assigned to those people who possess the right to work in the US. An EIN or Employer Identification Number is issued to certain individuals, decedents’ estates, partnerships, sole proprietors, government agencies, trusts, corporations, employers and non-profit associations.

It is also called Federal Employer Identification Number or FEIN. An ITIN or Individual Taxpayer Identification Number is assigned to aliens, like people whose visas are temporary, and the non-resident US people with the US income. These people require the ITIN because no bank account can be opened by them in the absence of a number, even if a non-profit organization desires to open it.

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