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TDS on Interest other than Interest on securities

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(Querist)
29 March 2011 Sir,
Will you plz tell me whether TDS provisions are attracted in case of payment of Interest to Finance Companies like Tata Capital Ltd, Reliance Capital, etc.
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CA Navin Jain

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CA Navin Jain (Expert)
29 March 2011 YES, TDS PROVISIONS ARE APPLICABLE BUT SUBJECT TO ABOVE ARE NOT COVERED UNDER BANK OR FINANCIAL INSTITUTION
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
29 March 2011 TDS Applicable
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
29 March 2011 TDS will be applicable to above entity since they are not covered under banking regualion rather some IRDA or any other rules and regualtion
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