This notification, S.O. 2164(E), issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, specifies an exemption under Section 10(6C) of the Income-tax Act, 1961. It pertains to Ms. Rolls-Royce Defense Services, Inc., located at 450 South Meridian Street, Indianapolis, Indiana 46225-1103, USA. The notification states that income earned by Rolls-Royce Defense Services, Inc. through royalty or fees for technical services, as part of the Mission Ready Management Solutions Agreement (MRMS No. CABS18FET0051718) dated July 14, 2017, with the Centre for Air Borne Systems, Defence Research and Development Organisation, Ministry of Defence, will be exempt from total income calculation. The exemption is limited to USD 21,67,317.50. This notification is numbered 50/2019 and filed under F.No.20012019/ITA-I, and was issued on June 27, 2019. The Under Secretary, Rajarajeswari R., is the contact person.
Key Entities Referenced
Ministry of Finance: A department of the Government of India responsible for financial matters.
Central Board of Direct Taxes: A department under the Ministry of Finance in India responsible for direct tax administration.
Income-tax Act, 1961: An Indian Act governing income tax laws.
Ms. RollsRoyce Defense Services, Inc.: A foreign company based in Indianapolis, Indiana, United States of America, that is the recipient of royalty or fees for technical services.
Indianapolis, Indiana: City and State in United States of America; location of Ms. RollsRoyce Defense Services, Inc.
Mission Ready Management Solutions Agreement MRMS No. CABS18FET0051718: An agreement between Ms. Rolls Royce Defense Services, Inc. and Centre for Air borne Systems.
Centre for Air borne Systems: An entity involved in an agreement with Rolls Royce Defense Services, part of Defence Research and Development Organisation.
Defence Research and Development Organisation: An organisation under the Ministry of Defence, involved in the agreement with Rolls Royce Defense Services.
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राजाराजेQ वरी आर.,अवर सिचव
3152 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 27th June, 2019
INCOME TAX
S.O.2164(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.
Rolls-Royce Defense Services, Inc., 450 South Meridian Street, Indianapolis, Indiana 46225-1103, United State of
America, by way of royalty or fees for technical services received in pursuance of the Mission Ready Management
Solutions Agreement (MRMS) No. CABS/18FET005/17-18, dated the 14 July 2017, entered into between M/s. Rolls-
Royce Defense Services, Inc. and Centre for Air borne Systems, Defence Research and Development Organisation,
Ministry of Defence, to the extent of USD 21,67,317.50, shall not be included in computing the total income of the said
foreign company.
[Notification No. 50 /2019/F.No.200/1/2019-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.