Extension of section 80LA commencement date broadens deduction eligibility for aircraft and ship transfer income under IFSC rules. The Bill amends clause (d) of sub-section (2) of section 80LA to extend the commencement-date eligibility so that income from the transfer of an aircraft or ship leased by an eligible Offshore Banking Unit or IFSC unit qualifies provided the unit commenced operations on or before 31 March 2030; the amendment takes effect from 1 April 2025.
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Provisions expressly mentioned in the judgment/order text.
Extension of section 80LA commencement date broadens deduction eligibility for aircraft and ship transfer income under IFSC rules.
The Bill amends clause (d) of sub-section (2) of section 80LA to extend the commencement-date eligibility so that income from the transfer of an aircraft or ship leased by an eligible Offshore Banking Unit or IFSC unit qualifies provided the unit commenced operations on or before 31 March 2030; the amendment takes effect from 1 April 2025.
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