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Tds on interest paid to hdfc bank for vehicle loand

This query is : Resolved 

03 June 2016 One of my client were took Vehicle Loan from HDFC Bank Ltd. and he paid interest with principle amount as EMI base. is, he liable to pay TDS on Interest u/s 194A? for f.y. 2016-17.

03 June 2016 Dear Sir,
As per section 194A(3)(iii) of the income tax Act, 1961 Interest paid to Banking company to which banking regulation Act, 1949 applies is not subject to tax deduction at source. therefore any interest on vehicle loan obtained from Bank are not subject to TDS.

03 June 2016 no need to deduct TDS on the same




05 June 2016 Interest to banks will not attract TDS



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