Special provision for computing profits and gains of the business of operation of aircraft in the case of non-resident - (New) Section 61(2)(table Sl. no. 3) / (Old) Section 44BBA

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....r Section 61 of the Income Tax Act, 2025 [ From 01.04.2026 ] Overriding Provisions [ Section 61(1) ] The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the manner of computation of profits and gains of the specified business in section 61(2). Eligibility - Non-residents engaged in the business of operating aircraft. Manne....

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...., received or deemed to be received in India, by the assessee or any other person on his behalf. No Deduction allowed -  Any loss, allowance or deduction allowable under the provisions of this Act shall not be allowed against the income computed in the manner specified in section 61(2). Deemed Depreciation - The written down value of any asset used for the purposes of any Business of op....