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.