TDS Applicability on interest on term loan
This query is : Resolved
04 September 2020
I have taken a term loan from PNB Housing Finance Ltd and making a repayment of loan on monthly basis (Interest + Principle). So i want to know whether tds is applicable to be deducted on interest amount in this case .
Thanks in advance
Thanks in advance
05 September 2020
TDS applicable if you taken loan NFB on interest you have to deduct tds, for PNB TDS not required to deduct on interest on loan .
05 September 2020
First of all thank you very much but i am not very much clear with the answer because i have already mentioned the name of the institution from where the loan has been taken so please let me know in this particular case tds is applicable or not.
05 September 2020
PNB is banking institution interest paid to banking sector 194A tds on interest not applicable.
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