Question

Ashish Saroj's image

hello sir i want to ask ?

Our company taken secured  loan from bajaj finance .

We deposit monthly Instalment.

PAss Entry 

                  Bajaj Finance Dr :42939

Interest on secured Loan Dr: 13145    

                  To Punjab National Bank Cr. 56084 

Note : Interest Taken From Loan Statement.

Question is 

why Tds Deduct on it and which section it will be count & require entry.