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Is tds have to deduct for hire purchase interest

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(Querist)
29 June 2013 is tds have to deduct for interest charged by sundaram finance on hire purchase agreement.
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Soumitra Basu

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Soumitra Basu (Expert)
30 June 2013 HIRE PURCHASE INTEREST, THOUGH NAMED AS INTEREST IT IS NOT AN INTEREST. IT IS HIRECHARGES WITH AN OPTION TO THE HIRER TO BE THE OWNER OF THE GOODS. THEREFORE, NO TDS IS REQUIRED.
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GUDLA SAI PRASAD

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GUDLA SAI PRASAD (Querist)
01 July 2013 Thanks for reply sir,
if a car loan taken from sundaram finance & interest was paid on monthly basis.tds have to deduct or not.
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GUDLA SAI PRASAD

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GUDLA SAI PRASAD (Querist)
04 July 2013 pleas reply my question sir
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