Lead or Led in the present tense

'lead' is indeed present tense.
Anyway, the form 'led' is not only the past tense form but also the past participle of lead.
The past participle is used to form the passive voice, therefore you can use 'led' in the present tense passive:
e.g.:
"The group is led by xy."

yeah, "lead" in the context of using passive voice may sound "correct", but it' not more correct than saying "there IS many people", instead of "there ARE.." but, hey, [almost] everyone is doing that.. unfortunately..

A memo that came across my desk today says, in part: "The BB Team, lead and managed by Mr. C, is part of ..."

"Lead" should be "led", even in the present tense, because it is an abbreviated way of saying, "being led by ...". The unstated present tense of this verb phrase is "being."

Note that the other present tense verb here--"managed"--is correctly

I think the main reason why people are often confused about the use of these two words is that the word "lead" has more than one meaning. When it refers to a metal, "lead" is pronounced the same as "led." I often see this error in our church bulletins: The discussion will be lead by Mr. Smith. (The word should be led.)

You have all helped me understand this subject much better. I'm glad I red what you had to say.

Pemmican'lead' is indeed present tense.
Anyway, the form 'led' is not only the past tense form but also the past participle of lead.

You correctly state that "lead" is the present tense. It would also be helpful to point out that when it is used in the present tense, it is pronounced "leed" as in "I am the Group Leader and I will lead the discussio

Just one more little correction: In one of your replies, you say, "I'm glad I red what you had to say."

Red is a colour. The word should be read. The pronunciation for both of these words is the same, but they have different meanings. The present and past tense for read are the same, but they are prononced differently.

I understand the difference between the words read (past tense of the verb read) and red (a colour). What I was trying to point out is that any argument promoting the logic for led just glosses over the silly irregularity of English spellings. Read (present tense) and read (past tense) provides a model that possibly explains why many mistakenly use lea

Lead is a present tense,

e.g We lead him to our chief

but led is past as well as part participle of 'lead',

e.g The party is led by Mr. Fox

I strongly believe that according to british system,it should be the word "led" in past tense.

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