Is tds applicable on loan taken from spouse

My wife is below BEL, so whom should she submit 15G?? Is this (15G) thing not applicable to banks only??

Thanks for your answer.

1) For no TDS to be deducted, is there any loan amount cap for loan taken from spouse?

2) Also, for loan taken from a friend for the same purpose of investing, does the same rule of NO TDS apply if interest is paid on the loan taken?

No cap for loan taken from spouse or friends and relative. TDS will be applied applied if loan taken in individual capacity.

Dear Kamal and Pravin,

This loan is taken in Individual capacity and interest too will be paid.

So Kamal as per you TDS has to be deducted but as per Pravin no TDS has to be deducted on the interest paid on this loan either from spouse/relative/friend.

Both of your views are contradicting. Can you both kindly quote or guide me to the respective section under which you are giving your view pls.

Thanks.

With due respect to people who have answered above, their views are totally different. Could somebody kindly reply on this with section or more details pls.

Thanks.

If the person taking loan is liable to tax audit u.s/ 44AB, then TDS will be applicable, whether the loan taken from spouse or friend or relative.,

1. Interest payable on the loan is tax-deductible u/s 194-A. However, interest payable on loan from Banking company or a co-operative society will not be covered under this section. 
2. Only individuals and HIF who are covered u/s 44AB during the immediately preceding FY will be required to deduct TDS u/s 194-A. 
3. If you are covered u/s 44AB then interest on the loan taken a spouse is tax deductible u/s 194-A @ 10% if such interest payment exceeds Rs. 5,000 per year. 
4. It does not matter for what purpose the loan was taken during the year. 
Please correct me if the above solution has an alternative view.