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Tds deduction on interest on loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2014 Dear Sir, myself Savan Kasliwal.

My query is " I have borrowed loan from Non-banking Financial Institute of Rs. 3 crore in Pvt. Ltd. Co." I am paying more than Rs. 4.00 lac per month as an Interest.

Whether any TDS shall be deduct against the interest amount?

If TDS shall be deduct, please answer with valid evidence like under which section of Income Tax Act?

If no then also provide valid legal justification.

Awaiting for your positive and prompt reply.

Please do the needful at the earliest.

With Best Regards,


Savan Kasliwal
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Sandeep Dharar

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Sandeep Dharar (Expert)
25 June 2014 TDS is n not deducted on Banks and Financial Institutions.
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2014 Thanks for your prompt reply.

Please provide valid evidence for no deduction.

Awaiting for your positive & prompt reply.
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