14 October 2010
Our company has purchase a car on lease from finance company. This is a 5 year lease and hence it is financial lease as co would get the ownwership of the car at end of the life. No service tax is charged in the bill.In other words it is a type of loan from Finance co.
Whether TDS would be applicable in this case?
If yes what is the TDS % and please give any supporting case laws.
CAclubindia
