Car lease by director
This query is : Resolved
Querist : Anonymous
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
30 July 2014
then it may fall under sec 40A (2) as related party transaction.....
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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