https://www.taxtmi.com/notifications?id=22121 Agreement implements a reciprocal exemption from income tax for international airlines by giving effect under Section 90, directing that exchanged letters modifying the avoidance-of-double-taxation arrangement be treated as domestic law so that income from the operation of qualifying aircraft is exempt. The exchange confirms the aircraft registration requirement: income exempt from U.S. tax must derive from aircraft registered in India to obtain reciprocal exemption, and India grants equivalent exemption to U.S.-registered aircraft operated by U.S. corporations and nonresident U.S. citizens. en-us Fri, 18 Apr 1980 00:00:00 +0530 Thu, 12 Nov 2009 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=22121 Agreement implements a reciprocal exemption from income tax for international airlines by giving effect under Section 90, directing that exchanged letters modifying the avoidance-of-double-taxation arrangement be treated as domestic law so that income from the operation of qualifying aircraft is exempt. The exchange confirms the aircraft registration requirement: income exempt from U.S. tax must derive from aircraft registered in India to obtain reciprocal exemption, and India grants equivalent exemption to U.S.-registered aircraft operated by U.S. corporations and nonresident U.S. citizens. Notifications Income Tax Fri, 18 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/notifications?id=22121