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Tds on interest on unsecured loan

This query is : Resolved 
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26 July 2013 It is a proprietorship firm. In the f.y. 2011-12 it was under tax audit. In the f.y. 2012-13. it was not under tax audit. In current year we paid interest to unsecured loan to an individual for Rs. 15000 in each quarter. Should we deduct TDS on the same? need direction.

Thanks & regards
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
26 July 2013 For the interest from 1.4.2013 onwards no TDS is required to be deducted in such a case.
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