Budget 2021: FM Nirmala Sitharaman announces tax exemption for aircraft leasing companies
Right now, it is 48 percent more expensive to do this in India, than in Ireland
February 01, 2021 / 12:57 PM IST
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Finance Minister Nirmala Sitharaman in her Budget 2021 speech on February 1 proposed a tax exemption for aircraft leasing companies, a move that may finally see India getting its first player in this aviation segment.
Till now, the Indian aviation industry has been dominated by lessors from Ireland and Hong Kong.
"I think it is an excellent move, and will perfectly complement the efforts of the Ministry of Civil Aviation in getting GIFT City off the ground. Already there is no stamp duty (waived by Gujarat govt) so this is a very welcome move," said Nitin Sarin, Managing Partner of Sarin & Co, which specialises in aviation law.