Notification No. 104/2021-Income Tax | Dated: 10th September, 2021

Last updated: 13 September 2021

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This notification, dated 10th September 2021, concerns the transfer of capital assets from Air India Limited to Air India Assets Holding Limited. This transfer is made under a plan approved by the Central Government and is specifically for the purposes of clause (viiaf) of section 47 of the Income-tax Act, 1961. The notification comes into effect from 1st April 2022, applying to the assessment year 2022-2023 and onwards.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 10th September, 2021
INCOME-TAX

S.O. 3678(E).—In exercise of the powers conferred by clause (viiaf) of the section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the transfer of capital asset under plan approved by Central Government from Air India Limited (PAN: AACCN6194P), being transferor public sector company, to Air India Assets Holding Limited (PAN: AAQCA4703M), being transferee public sector company, for the purposes of the said clause.

2. This notification shall come into force with effect from 1st day of April, 2022 and shall, accordingly, apply in relation to the assessment year 2022-2023 and subsequent assessment years.

[Notification No. 104 /2021/F. No. 370149/158/2021-TPL]

ANKIT JAIN, Under Secy. (Tax Policy and Legislation)

FAQ :

The notification concerns the transfer of capital assets from Air India Limited to Air India Assets Holding Limited under a Central Government-approved plan.

This notification is made under clause (viiaf) of section 47 of the Income-tax Act, 1961.

The notification comes into force with effect from 1st April 2022.

It will apply in relation to the assessment year 2022-2023 and subsequent assessment years.

Air India Limited has PAN AACCN6194P, and Air India Assets Holding Limited has PAN AAQCA4703M.