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Regarding TDS Deduction required on Commercial Vehicle Loan used for business by proprietor

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(Querist)
17 August 2023 Hello, Could anyone please help me on the below query

A proprietor took a loan for Commercial Vehicle Loan for business use from Cholamandalam Investment & Finance Co. Ltd. Yearly the interest happens to be around Rs.74912/-

Should we deduct TDS on the Interest paid to Cholamandalam?
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CA R SEETHARAMAN online

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CA R SEETHARAMAN online (Expert)
18 August 2023 Yes, deduct TDS on the payment.
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Francis George

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Francis George (Querist)
18 August 2023 Ok Sir, Thank You very much
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CA R SEETHARAMAN online

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CA R SEETHARAMAN online (Expert)
18 August 2023 You are welcome...
......
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Manish

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Manish (Expert)
23 August 2023 TDS not applicable here u/s 194A.

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