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Tds not deducted on interest paid to nbfc

This query is : Resolved 
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(Querist)
09 November 2014 WE PAID INTEREST TO BAJAJ FINANCE LTD BUT TDS ON DEDUCTED. WE ARE PRIVATE LIMITED CO.

SO, INTERST IS DISALLOW OR NOT
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shivaji prasad bhimavarapu

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shivaji prasad bhimavarapu (Expert)
09 November 2014 Yes.Interest paid without TDS is disallowed.Only for proprietary concerns,TDS provisions are relaxed for the first year of their Tax Audit.

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