Agreement between the Government of India and the Government of the United State of America for the avoidance of double taxation of income of enterprises operating aircraft - 0899(E) - Income Tax Act, 1961
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Exemption from income-tax for international airline earnings through reciprocal treatment between the two States, covering related activities. Reciprocal exemption from income-tax is granted for earnings from the operation of aircraft in international traffic by corporations organized in the other State and by citizens of the other State who are non-resident for tax purposes; the exemption covers directly connected activities, incidental leases, participation in pools and interest related to such operations, and the agreement is given domestic effect and may be terminated by six months' prior written notice.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption from income-tax for international airline earnings through reciprocal treatment between the two States, covering related activities.
Reciprocal exemption from income-tax is granted for earnings from the operation of aircraft in international traffic by corporations organized in the other State and by citizens of the other State who are non-resident for tax purposes; the exemption covers directly connected activities, incidental leases, participation in pools and interest related to such operations, and the agreement is given domestic effect and may be terminated by six months' prior written notice.
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