  CP violating dipole moments of leptons vanish at least to three loop order
and are estimated to be $({m_l\over Mev})\times 1.6\times 10^{- 40}$ e-cm in
the standard model (SM), where $m_l$ is the mass of the lepton. However they
can receive potentially large contributions in some beyond SM scenarios and
this makes them very sensitive probes of new physics. In this article we show
that a non universal interaction, involving leptoquarks to the quark-lepton
pair of the third generation through helicity unsuppressed couplings of the
order of ordinary gauge couplings, can generate electric and weak dipole
moments of the order of $10^{-19}$ e-cm for the tau lepton. This is greater
than pure supersymmetric (SUSY) and left-right (L-R) contributions by almost
three orders of magnitude. It is also greater than mirror fermionic
contribution by an order of magnitude.
  The measurements of $\dzt$ and $\dgt$ at LEP, SLC and TCF are expected to
reach sensitivities of $10^{-18}$ e-cm and $10^{-19}$ e-cm respectively in near
future. The observation of a non vanishing dipole moment of tau at these
facilities would therefore strongly favour superstring inspired light
leptoquark mediated interactions, over pure SUSY or L-R interactions and
perhaps also mirror generated mixings without some sort of quark-lepton
unification as its origin.
