Income-tax Act, 2025

Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents - Section 61

Special provision for computation of income on presumptive basis in respect of certain business activities of certain non-residents.

61. (1) The provisions of sections 26 to 54, to the extent contrary to this section, shall not apply to the manner of computation of profits and gains of the specified business in sub-section (2).

(2) The profits and gains of any specified business as mentioned in column B of the Table below, carried on by a specified assessee as mentioned in column C of the said Table during a tax year, shall be computed in the manner specified in column D thereof, and shall be deemed to be the profits and gains of such business of such assessee chargeable to tax for the said tax year under the head "Profits and gains of business or profession".

TABLE

Sl. No.

Specified business

Specified assessee

Profits and gains of business or profession

A

B

C

D

1.

Business of operation of ships, other than cruise ships referred to in Serial number 2.

Non- resident.

7.5% of (A+B),

where,

A = sum on account of carriage of passengers, livestock, mail or goods shipped at any port in India, whether paid or payable, in or outside India, to the assessee or any other person on his behalf (including demurrage, handling or other similar charges);

B = sum on account of carriage of passengers, livestock, mail or goods shipped at any port outside India, whether received or deemed to be received in India, by the assessee or any other person on his behalf (including demurrage, handling or other similar charges).

2.

Business of operation of cruise ships (subject to the conditions as may be prescribed).

Non-resident.

20% of (A+B),

where,

A = sum on account of carriage of passengers, paid or payable to the assessee or any other person on his behalf;

B = sum on a .... To read the full section download the app from Google Play store