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TDS ON INTEREST PAID, LOAN TAKEN FROM SUBSIDIRY OF BANK

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(Querist)
04 October 2019 Dear Sir

In previous financial we have paid Rs 1,04,117.00 as interest on car loan financed by Kotak Mahindra Prime Ltd, Kotak Mahindra Prime Ltd is a subsidiary of Kotak Mahindra Bank Ltd

Is TDS applicable on interest

Thanks
AVINASH
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Sahil Bhatia

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Sahil Bhatia (Expert)
05 October 2019 KMPL is registered as NBFC, hence you need to deduct TDS on interest paid.

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