SECTION 44BBA of the INCOME TAX ACT
Updated: Oct 14, 2022
Despite anything to the contrary stated in Sections 28 to 43A, a sum equal to 5% of the total of the amounts specified in Subsection (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" in the case of an Assessee who is a Non-Resident engaged in the business of operating aircraft.
The following sums are those mentioned in subsection (1)
The sum paid or payable to the assessee or anybody acting on his behalf (in or outside of India) for the transportation of people, animals, mail, or goods to or from any location in India;
The sum received or assumed to have been received in India by the assessee or on their behalf in connection with the transportation of people, animals, mail, or products from any location outside of India.