Government of foreign state or foreign enterprise
Nature of Income
Tax paid on income derived from leasing of aircraft or aircraft engine as per agreement approved by central govt.
Entire tax paid by the Govt. or Indian company
Conditions laid down for Tax Exemption
The income is derived from leasing of aircraft or engine as per approved agreement and not from provisions of spares, facilities or services in connection with operation of the same.
The agreement must be entered into after 31.3.1997 and before 1-4-1999 or after 31.3.2007
The expression foreign enterprise mean a person who is non-resident