Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
No deduction of tax is required under section 393(1) on lease rent or supplemental lease rent paid to an IFSC unit leasing aircraft, provided the lessor furnishes the prescribed statement-cum-declaration in Form 1(N) and the lessee receives it. The exemption applies only for the twenty consecutive tax years declared by the lessor for which deduction under section 147 is opted; for any other year, tax must be deducted. The lessee must report all non-deducted payments in the tax deduction statement, and the notification applies from 1 April 2026. It also sets system and data-security responsibilities for the tax systems authority and defines aircraft, IFSC, and unit by reference to the Act and SEZ law.
No deduction of tax is required under section 393(1) on lease rent or supplemental lease rent paid to an IFSC unit leasing aircraft, provided the lessor furnishes the prescribed statement-cum-declaration in Form 1(N) and the lessee receives it. The exemption applies only for the twenty consecutive tax years declared by the lessor for which deduction under section 147 is opted; for any other year, tax must be deducted. The lessee must report all non-deducted payments in the tax deduction statement, and the notification applies from 1 April 2026. It also sets system and data-security responsibilities for the tax systems authority and defines aircraft, IFSC, and unit by reference to the Act and SEZ law.
Note: It is a system-generated summary and is for quick reference only.
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