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Tds on interest car loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 February 2018 Sir,

1)we have taken car loan from Kotak Mahindra Bank and we are paying EMI ,
Is tds applicble on Interest paid

2) And also we have taken unsecured loan from Aditya Birla Finance ltd /Bajaj Finace ltd
We are paying interest along with principle monthly Is tds is applicable on Interest
Please advise

Thanks

Geetha s
Vedik Ispat pvt Ltd
Bangalore

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ASHWANI DHANUKA

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ASHWANI DHANUKA (Expert)
14 February 2018 TDS applicable when you paying int to NBFCs
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
14 February 2018 Yes, TDS applicable for NBFC financial institutions other than banking company. Interest Paid to Bajaj finance and Aditya Birla Finance on Interest paid TDS to be deducted.
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