PAN is required for:
* Individuals, businesses, and entities filing income tax returns.
* Opening a bank account, applying for loans, and high-value financial transactions.
* Companies, LLPs, and firms to conduct business legally and file taxes.
* Foreign nationals investing or conducting business in India.

TAN is mandatory for:
* Businesses or individuals deducting tax at source (TDS) for employees or vendors.
* Companies making payments that require tax collection at source (TCS).
* Filing TDS and TCS returns with the Income Tax Department.
* Avoiding penalties and ensuring smooth tax processing.

Required documents include:
* Identity proof (Aadhaar, passport, voter ID, or driving license).
* Address proof (utility bill, rental agreement, or bank statement).
* Business registration certificate (for companies and firms).
* Passport-size photograph (for individual applicants).
* Digital signature (if applying online for TAN).

The processing time for PAN and TAN applications is:
* PAN: 7-10 working days (physical card delivery may take longer).
* TAN: 5-7 working days after successful application processing.
* Expedited services may be available in certain cases.

Yes, a PAN is mandatory for all businesses, including sole proprietorships, partnerships, LLPs, and companies. It is required for tax filings, financial transactions, and compliance with the Income Tax Act.

TAN (Tax Deduction and Collection Account Number) is required for businesses or individuals responsible for deducting tax at source (TDS) or collecting tax at source (TCS). It is mandatory for filing TDS/TCS returns.

Yes, individuals can apply for PAN for personal tax filing, while TAN is needed only if they are responsible for deducting or collecting tax on payments.