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Car lease by director

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2014 Can a Director of Pvt Ltd Company purchase car in his personal name and lease the same to the Company for a monthly lease rent, are there any provision as to the limit of rent that can be paid, is there service tax and / or tds applicable on the same
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
30 July 2014 then it may fall under sec 40A (2) as related party transaction.....
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Rupesh Jain

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Rupesh Jain (Expert)
30 July 2014 if rent is exceeds Rs. 10 lacs then service tax applicable and tds if your rent exceeds rs. 180000/- u/s 194 I .
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