Bhasin was born in New Delhi; his father worked in the Indian Air Force and he is the elder of two siblings.

[8] He joined the Institute of Advanced Acting and Behavioural Studies for a year, where he learnt about body language and behavioral analytics.

[3] In 2013, he took part in the summer intensive acting and voice training program conducted by Naseeruddin Shah.

[3] That year, he was seen in a cameo appearance in the comedy thriller film Kismat Love Paisa Dilli, directed by Sanjay Khanduri.

(2013), playing the role of senior Ali—the cricketer in the film—Tahir appeared in the romantic comedy One by Two (2014), directed by Devika Bhagat.

[11] In 2014, Tahir made his Bollywood film debut—in a lead role—in Pradeep Sarkar's crime thriller Mardaani alongside Rani Mukerji, in which he played the role of Karan Rastogi, a Delhi-based human trafficking kingpin.

[17] In 2016, Tahir starred in the action spy thriller Force 2 as the antagonist opposite John Abraham and Sonakshi Sinha.

[19] Tahir walked the red carpet at the 2018 Cannes Film Festival as part of the cast for Nandita Das’s Manto, in which he portrays the 1940s Bollywood star Shyam.

[21] In 2021 Tahir starred In Kabir Khan’s 83, a film about India’s first cricket World Cup victory in 1983.

The Times of India said in its critique, "Tahir Raj Bhasin (who recently played Sunil Gavaskar in Kabir Khan's ‘83’) is delightful as a trapped Vikrant who is unable to escape.

When he discovers that everything in his life is falling apart, including his true love, he makes the audience empathise and sympathise with his character's claustrophobic condition.

[4] Bhasin walked for the ninth edition of the fashion show "Ramp For Champs" in 2015 and lent his support to the charity organisation Smile Foundation.