Notification Specifying Exemption from TDS Deduction under Section 393(1) on Lease Rent Paid to a unit engaged in the business of leasing of aircraft located in IFSC

Notification Specifying Exemption from TDS Deduction under Section 393(1) on Lease Rent Paid to a unit engaged in the business of leasing of aircraft located in IFSC https://www.taxtmi.com/notifications?id=146244 Exemption from tax deduction at source on aircraft lease rent applies to qualifying lease rent or supplemental lease rent paid to an IFSC Unit engaged in aircraft leasing that opts for the applicable deduction. The lessor must furnish and verify Form No. 1(N) for each selected tax year within twenty consecutive tax years. After receiving the declaration, the lessee must not deduct tax on qualifying payments and must report those payments in the prescribed tax-deduction statement. The exemption is limited to the declared period, and tax remains deductible for other years. en-us Fri, 03 Jul 2026 00:00:00 +0530 Wed, 05 Aug 2026 15:28:00 +0530 TaxTMI RSS Generator Notification Specifying Exemption from TDS Deduction under Section 393(1) on Lease Rent Paid to a unit engaged in the business of leasing of aircraft located in IFSC https://www.taxtmi.com/notifications?id=146244 Exemption from tax deduction at source on aircraft lease rent applies to qualifying lease rent or supplemental lease rent paid to an IFSC Unit engaged in aircraft leasing that opts for the applicable deduction. The lessor must furnish and verify Form No. 1(N) for each selected tax year within twenty consecutive tax years. After receiving the declaration, the lessee must not deduct tax on qualifying payments and must report those payments in the prescribed tax-deduction statement. The exemption is limited to the declared period, and tax remains deductible for other years. Notifications Income Tax Fri, 03 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/notifications?id=146244