The Company has a car lease agreement with my wife for lease of the car that I am using. My wife gets a cheque of Rs.15,000/- pm from the company. In April 2007, according to the new finance bill, a deduction of Rs.2600/- was made from this amount as lease tax, which is applicable as per the new budget? Can you please throw some light on this...is there such a thing called lease tax?
