Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents.
1. Sec 44BBA deals with the taxation of income on presumptive bases for non-residents carrying Aircraft business in India.
2. This section is not optional and it is mandatory for any non-residents who are carrying on aircraft business
3. Any amount which is paid or payable to the non-resident or to a person on his behalf or amount received or receivable to the non-resident or on behalf of the assessee in relation to carriage of passengers, livestock, mail or goods from in India or outside India respectively.
4. 5% on the above amount for the year will be considered as profit chargeable under the head PGBP to the non-resident and no other expenses or depreciation will be allowed.
Please correct me if the above solution has an alternative view.
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