Income-tax Act, 1961
Section - 115V-I - Relevant shipping income
Relevant shipping income.115V-I. (1) For the purposes of this Chapter, the relevant shipping income of a tonnage tax company means-
Providedthat where the aggregate of all such incomes specified in clause (ii) exceeds one-fourth per cent of the turnover from core activities referred to in sub-section (2), such excess shall not form part of the relevant shipping income for the purposes of this Chapter and shall be taxable under the other provisions of this Act.(2) The core activities of a tonnage tax company shall be-
| (i) | - | its profits from core activities referred to in sub-section (2); |
| (ii) | - | its profits from incidental activities referred to in sub-section (5): |
| (i) | - | its activities from operating qualifying ships; and |
| (ii) | - | .... To read the full section download the app from Google Play store
ARTICLESHIP
17 August 2026
Article AssistantK R Kiran Kumar & Associates Bengaluru CA Inter View Details
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups ClearedGetmyca Consultant Pvt Ltd New Delhi CA Inter View Details
18 August 2026
Audit Assistant - Remote / Work From HomeCA ANOOP P K & ASSOCIATES Kozhikode CA Inter View Details
CCI
Pro
|
CAclubindia
