27 April 2016
Dear Anonymous,
In your eg. Tds required on interest paid to bajaj finance but not on interest paid to bank. This is because bajaj finance is an nbfc and hdfc is covered under banking regulations act. The section is ample clear in this respect.
28 April 2016
Dear joshi ji Bajaj finance has denied to Deduct TDS plz clarify this issue also Mr. Amol has advised that No need to deduct TDS On payment to bajaj finance by way of Interest