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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th September, 2021 INCOME-TAX S.O. 3681(E).In exercise of the powers conferred by clause (b) of Explanation to sub-section (1H) of section 206C of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby specifies that, Air India Limited (PAN: AACCN6194P) shall not be considered as seller for the purposes of sub-section (1H) of section 206C of the said Act in relation to
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1999
(Excl. of GST ₹359)
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3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
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FAQ :
The notification specifies that Air India Limited shall not be considered a 'seller' under sub-section (1H) of section 206C of the Income-tax Act for specific transactions.
This exemption applies to the transfer of goods by Air India Limited to Air India Assets Holding Limited, under a plan approved by the Central Government.
The notification is deemed to have come into force from the 1st day of April, 2021.
The notification was issued by the Central Board of Direct Taxes, Ministry of Finance, Government of India.
Yes, the notification has retrospective effect from April 1, 2021. An explanatory memorandum certifies that no person is adversely affected by this.
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Notification No : 108/2021-Income TaxPublished in Income Tax