*Edit* It seems that model has a dedicated AMD graphics chip - my bad. It is still very much just about the lowest entry level dedicated graphics chip, so performance in Photoshop will not be great.
I also had to laugh out loud that the provided operating system seems to be Freedos? That means you will not even be able to run Photoshop, and you will have to install Windows, of course.
The screen resolution is so low, it would be very, very awkward to use with Photoshop.
The hard drive is very slow. This will affect Photoshop's overall performance. The processor is very slow - as basic as they come. This will also slow down Photoshop.
I suppose Photoshop should run on this with all features enabled, but it will not be a very pleasant experience.
It's not bad but the RAM's a little low. (Photoshop likes oodles of RAM; the more, the merrier. And Windows likes around 4GB for itself to perform comfortably.) As ray mentioned, Windows isn't installed, so you'd have to install that. Screen resolution is OK but realize that things will look big. (Huge, even.)
According to this spec HP Notebook - 15-ay513tx Product Specifications | HP® Customer Support that notebook uses a dedicated AMD card. However, it could be a variation. But even if it is fitted with the AMD card, it is still below the specs of tested cards (and folk do run into troubles even with tested cards).
The other comments from Rayek regarding the OS etc are correct. Not a good choice at all.
Here is some info which may help you select an alternative:
To amend my answer, after some research it seems that many computer vendors in India seem to provide computers without Windows installed - which is actually kinda nice - leaves it up to the customer.
AstoriaChang, you mention 3d rendering: that computer's processor speed is going to result in very slow 3d rendering - in particular in Photoshop, which is already abysmally slow and outdated in regards to 3d rendering. Rendering in other applications (like Blender, Maya, etc.) is also going to be very slow - but much better than Photoshop. So you may want to do 3d work in a different application than Photoshop.
No matter what, you may have to bring a lot of patience with you when doing 3d rending on this machine.