Special purpose vehicle definition requires an Indian company, business trust control, and prescribed ownership for tax application.

Special purpose vehicle for TDS/TCS purposes means an Indian company in which a business trust holds controlling interest and the required shareholding or interest percentage. Under the Income-tax Act, 2025, the percentage requirement follows the law governing the trust's registration. Under the Income-tax Act, 1961, the corresponding requirement follows the regulations governing that registration.

---

---

---