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Tds on interest

This query is : Resolved 
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(Querist)
06 October 2015 I want to know whether Sundaram Finance Limited is banking company for the purpose of deduction of tax at source under section 194A on payment of interest
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CA. Amit G. Chandani

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CA. Amit G. Chandani (Expert)
06 October 2015 It is NBFC and TDS is applicable if interest exceeds Rs. 5,000/-. However, Individual and HUF (other than those covered u/s 44AB) are out of the purview of this section.
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ashok bhurani

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ashok bhurani (Querist)
07 October 2015 Thanks Mr. Amit for your quick reply
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