My proprietor firm file was being audited as turnover was above audit threshold till 2 years before. I had also obtained a TAN number for TDS deposits which I deducted from interest payments on loan taken from private parties. Now since two years, as I have only rental income and no more business, my file is not being audited. But I am paying interest on loan taken from private parties.
Being an unaudited individual, do I require to deduct TDS, deposit them and file TAN return?
Or shall I not deduct any TDS from anybody and surrender the TAN?
CAclubindia
