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No TDS on on payment in the nature of lease rent or supplemental lease rent to the IFSC for lease of an aircraft - Central Government specifies that no deduction of tax shall be made under section 194-IA of the IT Act 1961 - 65/2022 - Income Tax
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No TDS on IFSC aircraft lease rent where lessor furnishes required declaration and lessee reports payments. No deduction of tax shall be made under section 194-I on lease rent or supplemental lease rent paid to a Unit in an International Financial Services Centre for aircraft leasing, provided the lessor furnishes a verified statement-cum-declaration in Form No. 1 for the declared consecutive assessment years and the lessee, upon receipt, refrains from deducting tax and reports particulars of such payments in the statutory statement; the exemption applies only for the years declared and technical procedures for secure data transmission are to be prescribed by Income-tax Systems authorities.
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.
No TDS on IFSC aircraft lease rent where lessor furnishes required declaration and lessee reports payments.
No deduction of tax shall be made under section 194-I on lease rent or supplemental lease rent paid to a Unit in an International Financial Services Centre for aircraft leasing, provided the lessor furnishes a verified statement-cum-declaration in Form No. 1 for the declared consecutive assessment years and the lessee, upon receipt, refrains from deducting tax and reports particulars of such payments in the statutory statement; the exemption applies only for the years declared and technical procedures for secure data transmission are to be prescribed by Income-tax Systems authorities.
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