Section - 10(34B) (of Income Tax Act, 1961), Income-tax Act
Section - 10(34B) (of Income Tax Act, 1961), Income-tax Act
Incomes not included in total income.
Following clause (34B) shall be inserted after clause (34A) of section 10 (of Income Tax Act, 1961) by the Finance Act, 2023, w.e.f. 1-4-2024 :
Any income of a unit of any International Financial Services Centre primarily engaged in the business of leasing of an aircraft by way of dividends from a company being a unit of any International Financial Services Centre primarily engaged in the business of leasing of an aircraft.
Explanation.— For the purposes of this clause "International Financial Services Centre" shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act 2005 (28 of 2005);
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