Section 34 - Amendment of section 115VT. - Finance Act, 2025

Amendment of section 115VT. 34. In section 115VT of the Income-tax Act, with effect from the 1st April, 2026, (i) in sub-section (3), after the words new ship at both the places where they occur, the words or new inland vessel, as the case may be shall be inserted; (ii) in sub-section (4), in clause (c), for the words, brackets, letter and figure as specified in clause (a) of sub-section (3), but such ship , the words, brackets, letter and figure or new inland vessel, as the case may be, as specified in clause (a) of sub-section (3), but such ship or inland vessel, as the case may be, shall be substituted; (iii) in the Explanation, for the words section, new ship includes , the words section, new ship or new inland vessel , as the case may be, includes shall be substituted.