IFSC Authority announces framework for aircraft leasing companies

Taking forward the Budget announcement to make India an aircraft leasing hub, the International Financial Services Centre Authority (IFSCA) today announced a framework for companies that plan to get into aircraft operating lease in India. The government, in the Budget this year, had announced several tax incentives for aircraft leasing companies in the country.

Officials say that these tax incentives will be for a period of ten years and will make it at par with the incentives that these companies have in Ireland. “The incentives will make it more competitive than any other part of the world, if one adds the benefits accrued on account of labour costs,” said an official on a condition of anonymity.