Special provision for computing profits and gains of the Business of Operation of Aircraft In the case of Non-Residents – Section 44BBA - International Taxation - Income Tax

Special provision for computing profits and gains of the Business of Operation of Aircraft In the case of Non-Residents Section 44BBA Applicable to Non-resident in aircraft operations business Income taxable under the head of PGBP 5% of Aggregate amount mentioned below: Freight received in India or outside India for carriage of goods etc. from India . Freight received or deemed to be received in India for carriage of goods etc. from outside India. Income lower than presumptive rate Assessee cannot show. Provisions of Section 28 to 43A Not applicable Set-off of current year depreciation and b/f depreciation of other business against such income. Not Possible Set-off of current year losses and b/f losses of other business against such income. Possible Chapter VI-A deduction Available Important point This section 44BBA does not distinguished between corporate (i.e. Company etc. ) and non-corporate (i.e. individual) taxpayers who operates aircraft provided their residential status is that of non-resident.