MAY need a new PSU.

[sswats]

Don't know exactly what specs you need.

Specs are-
Gigabyte DS3P
E4300 (@2.7)
EVGA 8800gts 320mb
2gb
2HDD
1DVD-RW

Currently have a Tagan 480W which i suspect is not working properly.

 

[jak731]

corsair 520W will run that without a problem

 

[semi-pro waster]

What makes you suspect it isn't working properly? Also is it ATX 2.0 compliant? You might well be right but no point in replacing something if it isn't the problem.