This notification, S.O. 1214(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes on March 8, 2019, specifies that income earned by Ms. Elbit Systems Limited, an Israeli foreign company, through royalties or fees for technical services will be exempt from inclusion in the company's total income calculation. The exemption applies to income received under contract no. AIRHQS963441ASR signed on January 30, 2017, between Elbit Systems Limited and the Ministry of Defence, Government of India. The exempted amount is capped at USD 30,786,693. The legal basis for this notification is clause (6C) of section 10 of the Income-tax Act, 1961. The notification number is 15/2019, and the F. No. is 2005/2018/ITAI. The issuing authority is Rajarajeswari R., Under Secretary.
Key Entities Referenced
New Delhi: The city where the notification was issued.
Income-tax Act, 1961: The Indian law under which the powers are conferred for the notification.
Central Board of Direct Taxes: The department under the Ministry of Finance issuing the notification.
Ministry of Finance: The Indian government ministry under which the Department of Revenue and Central Board of Direct Taxes operate.
Elbit Systems Limited: A foreign company based in Haifa, Israel, that is the recipient of income specified in the notification.
Haifa, Israel: The city and country where Elbit Systems Limited is headquartered.
Ministry of Defence: The Indian government ministry that entered into an agreement with Elbit Systems Limited.
USD 30,786,693: The amount of income arising to Elbit Systems Limited, by way of royalty or fees for technical services that shall not be included in computing the total income of the said foreign company.
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[अिधसूचना सं. 15 /2019/ फा. सं. 200/5/2018-आईटीए-I]
राजाराजेEव री आर, अवर सिचव
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1547 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 8th March, 2019
S.O. 1214(E).—In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43
of 1961), the Central Government hereby specifies that any income arising to the foreign company namely, M/s Elbit
Systems Limited, Corporate Headquarters, Advanced Technology Center, P.O.B. 539, Haifa 31053, Israel, by way of
royalty or fees for technical services received in pursuance of the agreement entered into between M/s Elbit Systems
Limited and Ministry of Defence, Government of India vide contract no. AIRHQ/S96344/1/ASR signed on the
30th January, 2017 to an extent of USD 30,786,693 shall not be included in computing the total income of the said foreign
company.
[Notification No. 15 /2019/ F. No. 200/5/2018-ITA-I]
RAJARAJESWARI R., Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.