Applicability of TDS deduction on interest payment to Govt body

This discussion explores whether interest payments made by a Special Purpose Vehicle (SPV) on an NHAI loan are exempt from Tax Deducted at Source (TDS) under Section 196(iii) of the Income Tax Act. The consensus suggests that such payments are indeed exempted due to the nature of SPVs and their potential for various TDS deductions. Further details on the specifics of this exemption are sought.