TDS Applicability on interest on term loan

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Kushal Agarwal (Querist)
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04 September 2020 I have taken a term loan from PNB Housing Finance Ltd and making a repayment of loan on monthly basis (Interest + Principle). So i want to know whether tds is applicable to be deducted on interest amount in this case .
Thanks in advance

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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05 September 2020 TDS applicable if you taken loan NFB on interest you have to deduct tds, for PNB TDS not required to deduct on interest on loan .

Kushal Agarwal

Kushal Agarwal (Querist)
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05 September 2020 First of all thank you very much but i am not very much clear with the answer because i have already mentioned the name of the institution from where the loan has been taken so please let me know in this particular case tds is applicable or not.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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05 September 2020 PNB is banking institution interest paid to banking sector 194A tds on interest not applicable.

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