Tonnage income.
- Subject to the other provisions of this Chapter, the tonnage income shall be computed in accordance with section 115-VG and the income so computed shall be deemed to be the profits chargeable under the head "Profits and gains of business or profession" and the relevant shipping income referred to in sub-section (1) of section 115-VI shall not be chargeable to tax.Previous
Sec 115VE — Manner of computation of income under tonnage tax scheme
Next
Sec 115VG — Computation of tonnage income
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.