Tan for unaudited individual

TDS 304 views 2 replies

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?

Replies (2)

Dear Ramesh for indivituals and HUFs whose turnover was below limit of sec 44AB ( tax audit) for previous year need not to deduct TDS under sec 194A,194C, 194H, 194I, 194J in the current year. since you only have rental income for past 2 years you need not to deduct TDS on your interest payments

agree with Mr. Shankar


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