Section 44BBACentral Act
Section 44BBA: [ Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents. [Inserted by Act 11 of 1987, Section 12 (w.e.f. 1.4.1988).]
[ Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents. [Inserted by Act 11 of 1987, Section 12 (w.e.f. 1.4.1988).]
(1)
Notwith-standing anything to the contrary contained in sections 28 to 43-A, in the case of an assessee, being a non-resident, engaged in the business of operation of aircraft, a sum equal to five per cent. of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession".(2)
The amounts referred to in sub-section (1) shall be the following, namely:-(a)
the amount paid or payable (whether in or out of India) to the assessee or to any person on his behalf on account of the carriage of passengers, livestock, mail or goods from any place in India; and(b)
the amount received or deemed to be received in India by or on behalf of the assessee on account of the carriage of passengers, livestock, mail or goods from any place outside India. ]Previous
Sec 44BB — [ Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils. [Inserted by Act 11 of 1987, Section 11 (w.r.e.f. 1.4.1983).]
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Sec 44BBB — [ Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects. [Inserted by Act 13 of 1989, Section 10 (w.e.f. 1.4.1990).]
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