CBDT has issued Notification No. 80/2026 [F. No. 275/19/2026-IT(B)]
CBDT has issued Notification No. 80/2026 [F. No. 275/19/2026-IT(B)]

Tax Compliance Update for Aircraft Leasing in IFSC.

The CBDT has notified Form No. 1(N) under Notification No. 74/2026, granting explicit TDS exemptions on lease/supplemental lease rent payments for units located in the IFSC.

A. 🚫 No TDS on lease rent payments if the lessor submits a declaration in Form 1(N).

B. 📅 Covers 20 consecutive tax years chosen by the lessor under section 147 of the Income-tax Act, 2025.

C. 🚀 Effective retrospectively/deemed from April 1, 2026.

Swipe through the images below to see the official Form format and specific legal clauses.

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