Deemed profits in aircraft operations: fixed proportion of carriage receipts taxed for non-resident operators under income tax. Special provision for non-resident aircraft operators deems a sum equal to five per cent of the aggregate of specified carriage receipts to be the profits and gains of the business chargeable under 'Profits and gains of business or profession.' The aggregate includes (a) amounts paid or payable to the assessee or on his behalf for carriage from any place in India, and (b) amounts received or deemed to be received in India for carriage from any place outside India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed profits in aircraft operations: fixed proportion of carriage receipts taxed for non-resident operators under income tax.
Special provision for non-resident aircraft operators deems a sum equal to five per cent of the aggregate of specified carriage receipts to be the profits and gains of the business chargeable under "Profits and gains of business or profession." The aggregate includes (a) amounts paid or payable to the assessee or on his behalf for carriage from any place in India, and (b) amounts received or deemed to be received in India for carriage from any place outside India.
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