Yes. If companies forget to mention the TIN in an invoice or any of the sales documents, they are liable to pay the penalty. The amount paid as the penalty is determined by the State Government that assigns the TIN to the company.
Some states allow the mentioning of the residential address of the applicant when filling the TIN application form. However, check with your state authorities before doing so, as in most cases, it can lead to the cancellation of your TIN application during the final verification process.
For those starting a Sole Proprietorship Firm can apply for TIN and then open a current bank account based on the TIN certificate.
Yes. TIN is referred to as a VAT number in most cases.