No TDS on ship lease payments to IFSC units where a prescribed declaration establishes exemption and reporting duties. No tax shall be deducted at source on lease rent or supplemental lease rent paid to a Unit of an International Financial Services Centre for leasing a ship, provided the lessor furnishes a prescribed Declaration Form declaring IFSC deduction eligibility and the ten consecutive assessment years for which the deduction is claimed; the lessee, upon receipt of the declaration, shall not deduct tax on payments to the lessor and must report such payments in the TDS statement, with the exemption applying only to the declared years and subject to data capture and security procedures prescribed by the tax systems authority.