Hire purchase and TDS applicability

Yes. Interest paid under a hire purchase contract should be paid net of TDS as the interest portion in the EMI shall be the income of the receiver.

TDS will be deduct on interest amount

Yes, TDS will be applicable on interest paid.

Yes, Deduct TDS on Interest portion

Depends on the status of the lender. Interest paid to banking companies, financial institutions and other notified institutions are exempt from TDS requirement.

YES APPLICABLE TDS ON INTEREST PORTION