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Tds deductibility

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(Querist)
25 March 2018 Suppose I took a loan worth 200000 from a business person in July2017 now his interest
Now 10000 and what is process for tds on interest and who will deduct it and how to deposit it in bank. What documents are required for deducting tds like tan, pan, gstin
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
25 March 2018 TDS on Interest If Exceeds   Rs.5,000 in other than Bank interest, TDS to be deducted by Person who pays interest if he claim interest on Loan in order to claim business exps, TDS to be deducted @10% u/s 194A.

Deductor Should have TAN number, same to be remitted before 7th of Subsequent month,

Quarterly return to be submitted to NSDL Within Due date to avoid late Fees u/s 234E.
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