Section 194A has a long lists of exempted category of instituions, and various individual entities have also been notified as exempt from the operations of tds U/S. 194a. Besides this, various financial instituions are also regularly obtaining NIL deduction certificate under Section 197 for the interest payments to be received in any particular financial year.
Barring these cases, ineterst paid to all other entities have to be subjected to TDS u/s. 194A.
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