The government has exempted taxes on transfer of assets by Air India to SPV Air India Assets Holding Ltd, a move aimed at facilitating strategic disinvestment of the national carrier.
As a precursor to Air India sale, the government in 2019 had set up a special purpose vehicle, Air India Assets Holding Ltd (AIAHL), for transfer of debt and non-core assets of the Air India group.
In a set of notifications, the Central Board of Direct Taxes (CBDT) has said that no TDS shall be deducted under section 194Q in case of transfer of goods by Air India Ltd to AIAHL.
