TDS on interest payable on loan given by individual to proprietorship company

An individual has given a loan to a proprietorship company in the beginning of the current financial year. Till date the loan has not been repaid . The interest due to him on the loan repayable is more than Rs 5000 . Is TDS deductible and to be booked in accounts now , even though the loan is not to be repaid as of now ? Please clarify .