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Income Tax

Home Acts & Rules Income Tax Act Income-tax Act, 1961 Chapter XII-G = SPECIAL PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES Chapters List This

SPECIAL PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES - Income-tax Act, 1961
Chapter: XII-G
SPECIAL PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES
Part: A
Meaning of certain expressions
Section 115V : Definitions
Part: B
Computation of tonnage income from business of operating qualifying ships
Section 115VA : Computation of profits and gains from the business of operating qualifying ships
Section 115VB : Operating ships
Section 115VC : Qualifying company
Section 115VD : Qualifying ship
Section 115VE : Manner of computation of income under tonnage tax scheme
Section 115VF : Tonnage income
Section 115VG : Computation of tonnage income
Section 115VH : Calculation in case of joint operation, etc.
Section 115VI : Relevant shipping income
Section 115VJ : Treatment of common costs
Section 115VK : Depreciation
Section 115VL : General exclusion of deduction and set off, etc.
Section 115VM : Exclusion of loss
Section 115VN : Chargeable gains from transfer of tonnage tax assets
Section 115VO : Exclusion from provisions of section 115JB
Part: C
Procedure for option of tonnage tax scheme
Section 115VP : Method and time of opting for tonnage tax scheme
Section 115VQ : Period for which tonnage tax option to remain in force
Section 115VR : Renewal of tonnage tax scheme
Section 115VS : Prohibition to opt for tonnage tax scheme in certain cases
Part: D
Conditions for applicability of tonnage tax scheme
Section 115VT : Transfer of profits to Tonnage Tax Reserve Account
Section 115VU : Minimum training requirement for tonnage tax company
Section 115VV : Limit for charter in of tonnage
Section 115VW : Maintenance and audit of accounts
Section 115VX : Determination of tonnage
Part: E
Amalgamation and demerger of shipping companies
Section 115VY : Amalgamation
Section 115VZ : Demerger
Part: F
Miscellaneous
Section 115VZA : Effect of temporarily ceasing to operate qualifying ships
Part: G
Provisions of this Chapter not to apply in certain cases
Section 115VZB : Avoidance of tax
Section 115VZC : Exclusion from tonnage tax scheme
 

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