LatestAccounting And Audit 6 July 2026
Tax Exemption On Ship Leasing
The CBDT has granted a TDS exemption on ship leasing payments to IFSC units under a 20-year tax deduction scheme, providing relief to the shipping industry. This decision is expected to boost the growth of the industry and attract more investment.
The Central Board of Direct Taxes (CBDT) has granted a Tax Deducted at Source (TDS) exemption on ship leasing payments to International Financial Services Centre (IFSC) units under a 20-year tax deduction scheme. *Key points* of this exemption include:
- TDS exemption on lease rentals paid by IFSC units to foreign lessors
- Exemption applicable for a period of 20 years from the date of commencement of operations by the IFSC unit
- The exemption is expected to promote the growth of the shipping industry in India and attract more investment.
For more details on this tax exemption and how it can benefit your business, visit the original source.
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.