Section 80LA deduction expanded to cover IFSC registration and aircraft lease transfer income for eligible units. The amendment broadens entitlement to the deduction under section 80LA by permitting claims where permission or registration under the International Financial Services Centre Authority Act, 2019 has been obtained, adds income from transfers of aircraft or aircraft engines leased to domestic aircraft operators (subject to commencement of operations on or before 31 March 2024) as deductible, and modifies documentary requirements to accept permission or registration under the IFSC Authority Act in place of the earlier Banking Regulation Act permission, while preserving the accountant's certification requirement.
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Provisions expressly mentioned in the judgment/order text.
Section 80LA deduction expanded to cover IFSC registration and aircraft lease transfer income for eligible units.
The amendment broadens entitlement to the deduction under section 80LA by permitting claims where permission or registration under the International Financial Services Centre Authority Act, 2019 has been obtained, adds income from transfers of aircraft or aircraft engines leased to domestic aircraft operators (subject to commencement of operations on or before 31 March 2024) as deductible, and modifies documentary requirements to accept permission or registration under the IFSC Authority Act in place of the earlier Banking Regulation Act permission, while preserving the accountant's certification requirement.
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