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Intarest paid on car loan

This query is : Resolved 
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(Querist)
27 January 2013 dear sir
an individual assessee taken a car loan from tata mottors, intarest on car loan paid tds is need to be deducted or not? please clarify thanks......
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
27 January 2013 First of all no individual or HUF needs to deduct tax at source unless he has got business income and having a tax audit of such business.

Secondly, TDS need not be deducted if the payments are made to Public financial institutions.
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