Section 115VACentral Act
Section 115VA: Computation of profits and gains from the business of operating qualifying ships
Computation of profits and gains from the business of operating qualifying ships.
- Notwithstanding anything to the contrary contained in sections 28 to 43-C, in the case of a company, the income from the business of operating qualifying ships, may, at its option, be computed in accordance with the provisions of this Chapter and such income shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession".Disclaimer: This section is reproduced for general informational and reference purposes only. Always verify against the latest official gazette and consult a qualified advocate before relying on any provision.