Licensor or lessor definition covers business-use transfers of specified property rights, excluding transfers to public sector companies.

For TDS and TCS purposes, "licensor or lessor" means a person transferring, wholly or partly, rights or interests in a parking lot, toll plaza, mine or quarry through a lease, licence, contract or other arrangement for another person's business use. Transfers to a public sector company are excluded. No corresponding definition exists under the Income-tax Act, 1961.

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