if u r individual or HUF then there no liability to deduct TDS.if u are other than individual and HUF then u r liable to deduct TDS u/s 194A i.e.., TDs on interest at 10%
The query is related to TDS u/s 194A. In case you are an individual/HUF and a tax audit assessee then you have to deduct tds @ 10%. In case of other assessees like firm/company it is mandatory to deduct tds. An exemption has been provided where payment is made to a banking co. but in this case deductee is a NBFC and not a banking co. hence tds have to be deducted.