Domestic airlines get tax exemption for 1 more year

New Delhi:The Union Budget 2006-07 has provided some relief to the domestic aviation sector while international air travel and travel by cruise ships is set to become slightly more expensive. The Budget has extended the exemption for domestic airlines on income tax they would have had to pay on lease payments for an aircraft or aircraft engine by one more year.
The tax, that could be as high as 42 per cent depending on which country the aircraft or engine is being leased from, was to come into effect from April 1.
The Budget, however, has also proposed levying a 12 per cent cess on air passengers flying abroad in business or first class and on travel on cruise ships.
01-03-06 Moneycontrol.com

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