New Delhi. The sale of government stake in the public sector airline company Air India (Govt Stake Sell) is progressing slowly. Now the central government has given tax exemption on transfer of assets on behalf of Air India to SPV Air India Assets Holding Ltd. Before selling stake in Air India, the national airline is transferring its assets to SPV Air India. The central government has said that TDS and TCS will not have to be paid on the assets that the company is transferring.
Strategic disinvestment of Air India will be completed easily
With a view to facilitate ease of facilitating strategic disinvestment of the national airline, sales have been exempted from TDS and TCS. For the sale of Air India, the government had formed a special entity Air India Assets Holding Limited (AIAHL) in the year 2019. Air India Group's debt and non-core assets were to be transferred to this entity. According to the notifications issued by the Central Board of Direct Taxes (CBDT), no tax will be deducted under section 194Q on transfer of goods by Air India to AIAHL.
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