Applicability of tds

As per section 194a : TDS is not required to be deducted where interest is credited or paid to any banking company, co-operative societies engaged in banking business, public financial institutions, the Life Insurance Corporation, the unit Trust of India, a company or a co – operative society carrying on the business of insurance, or notified institution.

But this section does not provide any exemption from TDS to Non Banking financial companies.

 NO TDS ON INTEREST ON CC LIMIT/OVERDRAFT LIMIT / TERM LOAN 

I agree with Vishal Goel