Manner of computation of income under tonnage tax scheme

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..... r the tonnage tax scheme. (2) The business of operating qualifying ships giving rise to income referred to in sub-section (1) of section 115V-I shall be considered as a separate business (hereafter in this Chapter referred to as the tonnage tax business) distinct from all other activities or business carried on by the company. (3) The profits referred to in sub-section (1) shall be computed .....

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