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of <h1>Special Provision for Aircraft Operators: Non-Residents' Income Set at 5% Freight Rate Under Section 44BBA</h1> Section 44BBA provides a special provision for computing profits and gains for non-residents engaged in the business of operating aircraft. The income is deemed as profits and gains of business or profession (PGBP) and is calculated as 5% of the freight received in India or outside India for goods carried from or to India. Non-residents cannot declare income lower than this presumptive rate. Provisions from Section 28 to 43A do not apply. Set-off of current year and brought forward depreciation against such income is not allowed, but set-off of current year and brought forward losses is possible. Deductions under Chapter VI-A are available.
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