Central Government Exempts Elbit Systems' $30.8M Income from Indian Tax u/s 10(6C) of Income-tax Act, 1961.
The Central Government, under clause (6C) of section 10 of the Income-tax Act, 1961, has issued a notification specifying that income received by M/s Elbit Systems Limited, a foreign company based in Israel, will not be included in its total income calculation. This exemption applies to income arising from royalties or fees for technical services under an agreement with the Ministry of Defence, Government of India, as per contract no. AIRHQ/S96344/1/ASR dated January 30, 2017. The exempted amount is USD 30,786,693.
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