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Deduction of tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2012 is interest paid on loan for commercial vehicle to NBFC liable to deduction of TDS?
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neeraj

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neeraj (Expert)
16 July 2012 I think , no need to deduct TDS on intt paid on loan from any bank or financial institution.
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Suresh Mittal

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Suresh Mittal (Expert)
16 July 2012 The TDS is to be deducted as its interest payment to Non Banking Finance Co. and not to Bank
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