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.
