Income-tax Act, 1961

Section - 115VD - Qualifying ship

Qualifying ship.

115VD. For the purposes of this Chapter, a ship 58[or inland vessel, as the case may be,] is a qualifying ship if-

(a)- it is a seagoing ship or vessel 58[, or inland vessel, as the case may be,] of fifteen net tonnage or more;
(b)- it is a ship registered under the Merchant Shipping Act, 1958 (44 of 1958), or a ship registered outside India in respect of which a licence has been issued by the Director-General of Shipping under section 406 or section 407 of the Merchant Shipping Act, 1958 (44 of 1958) 58[or an inland vessel registered under the Inland Vessels Act, 2021 (24 of 2021), as the case may be]; and
(c)- a valid certificate in respect of such ship 58[or inland vessel, as the case may be,] indicating its net tonnage is in force,
but does not include-

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