Tds on interest on loan

please solve my queries

Hello,

TDS is required to be deducted on interest paid to NBFCs u/s 194A of the income tax act if your concern is covered u/s 44AB of the Income tax act or your business exceeds monetary limit of Tax Audit.

The code while deducting TDs on payments to a ltd company "(0020) company deductee" to be used.

India bulls may not allow you to deduct 10% TDS on interest and pay the balance to them. So, you will have to deduct TDS and still pay the whole installment to them.But in most cases the NBFCs refund the total TDS  amount after the loan is repaid.