Tds on interest car loan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2018 Sir,

1)we have taken car loan from Kotak Mahindra Bank and we are paying EMI ,
Is tds applicble on Interest paid

2) And also we have taken unsecured loan from Aditya Birla Finance ltd /Bajaj Finace ltd
We are paying interest along with principle monthly Is tds is applicable on Interest
Please advise

Thanks

Geetha s
Vedik Ispat pvt Ltd
Bangalore

ASHWANI DHANUKA

ASHWANI DHANUKA (Expert)
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14 February 2018 TDS applicable when you paying int to NBFCs

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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14 February 2018 Yes, TDS applicable for NBFC financial institutions other than banking company. Interest Paid to Bajaj finance and Aditya Birla Finance on Interest paid TDS to be deducted.

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