Tax exemption for aircraft lease payments when an Indian operator leases from a foreign state or non-resident under approved agreement. An amendment adds clause (15A) to section 10, exempting payments by an Indian company operating aircraft to acquire an aircraft on lease from a foreign ... Summary
Tax exemption for aircraft lease payments when an Indian operator leases from a foreign state or non-resident under approved agreement.
An amendment adds clause (15A) to section 10, exempting payments by an Indian company operating aircraft to acquire an aircraft on lease from a foreign State government or a foreign enterprise, where the lease is under an agreement approved by the Central Government; the Explanation defines "foreign enterprise" as a non-resident.
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