No deduction of tax u/s 194 of the IT Act 1961 from any income in the nature of dividend paid by any unit of an International Financial Services Centre [engaged in the business of leasing of an aircraft]

No deduction of tax u/s 194 of the IT Act 1961 from any income in the nature of dividend paid by any unit of an International Financial Services Centre [engaged in the business of leasing of an aircraft] https://www.taxtmi.com/notifications?id=140447 No deduction of income tax under section 194 applies to dividends paid by an IFSC unit primarily engaged in aircraft leasing to a like IFSC unit, provided the payee furnishes a verified Statement cum Declaration in Form No. 1 certifying IFSC unit status and exemption eligibility. After receipt of that declaration the payer shall not deduct tax and must report particulars of such non deducted payments in the prescribed statement of tax deductions. The tax systems authority shall prescribe secure procedures for data capture, transmission and archival. en-us Thu, 20 Jul 2023 00:00:00 +0530 Wed, 26 Jul 2023 18:24:00 +0530 TaxTMI RSS Generator No deduction of tax u/s 194 of the IT Act 1961 from any income in the nature of dividend paid by any unit of an International Financial Services Centre [engaged in the business of leasing of an aircraft] https://www.taxtmi.com/notifications?id=140447 No deduction of income tax under section 194 applies to dividends paid by an IFSC unit primarily engaged in aircraft leasing to a like IFSC unit, provided the payee furnishes a verified Statement cum Declaration in Form No. 1 certifying IFSC unit status and exemption eligibility. After receipt of that declaration the payer shall not deduct tax and must report particulars of such non deducted payments in the prescribed statement of tax deductions. The tax systems authority shall prescribe secure procedures for data capture, transmission and archival. Notifications Income Tax Thu, 20 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/notifications?id=140447