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Income Tax Exemption under Section 10(6BB) of Income Tax Act, 1961

Eligible Assessee

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.


Amount Exempt

Entire tax paid by the Govt. or Indian company


Conditions laid down for Tax Exemption

  1. 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.
  2. The agreement must be entered into after 31.3.1997 and before 1-4-1999 or after 31.3.2007
  3. The expression foreign enterprise mean a person who is non-resident


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