TMI BlogGuidelines for Providing Training by Shipping Companies for Tonnage-tax Scheme under Chapter XII-G of Income-tax ActX X X X Extracts X X X X X X X X Extracts X X X X ..... from 1st January, 2005 for providing train ing by Shipping Companies opting for Tonnage Tax scheme under Chapter XII-G of the Income-tax Act, 1961. 1. A tonnage tax company shall have trainee-officers on board all or any of its Qualifying Ships and shall ensure that the aggre gate of training man-days on all Qualifying Ships in a financial year is not less than the minimum training requirement. Explanation —For the purposes of these Guidelines, (a) A 'trainee-officer' means a person possessing the requisite qualifications specified under the Manual on Maritime Education Training Assessment (META) published by the Director General of Shipping and/or as per guidelines prescribed by the Director General of Shipping, from time to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r General of Shipping for each financial year calculated as the aggregate Net Tonnage of all qualifying ships registered under the Merchant Shipping Act, 1958 at the end of the preceding financial year divided by the total number of such ships at the end of the preceding financial year and shall be notified by the Director General of Shipping within 60 days from the beginning of each financial year. (d) "Indian National Shipowners' Association" means the association of Indian ship-owners registered under section 25 of the Companies Act, 1956. (e) 'Financial year' means the period beginning on April 1 and ending on March 31. 2. A tonnge tax company shall recruit trainee-officers on board all or any of its qualifying ships fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... meeting all the administrative expenses relating to the Tonnage Tax cell to be created by the Director General of Shipping and for the promotion of training and employment of Indian seafaring officers and for payment towards refund of fees in accordance with clause 10. 7. The provision of training to a trainee-officer shall not be considered as guarantee of employment to such trainee-officer on completion or cessation of such training. 8. On completion of training by a trainee-officer, he shall be required to work with the tonnage tax company for such period, not exceeding one year, as may be required by the tonnage tax company. Until he completes this obligation, the trainee-officer shall not be entitled to work with any other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntained by the Trust, starting from the date of acknowledgment by the Trust of a request in writing till the date of availability of trainee-officers in response to such request. (ii) The period for which a trainee-officer is absent on the board of a Qualifying Ship due to delay in reporting by the trainee-officer or a delay for any reason beyond the control of the tonnage tax company, where such delay has been intimated by the company to the Director General of Shipping. (iii) Where the training is terminated due to any reason other than the scheduled completion of the training, the period between such termination and deputation of another trainee-officer at the next port of call in India provided the tonnage tax company has gi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or General of Shipping is not satisfied with the details submitted in the annual return in accordance with clause 13, he shall serve on the tonnage tax company a notice requiring it to produce within such time, not being less than 30 days and not being more than 60 days, any particulars specified therein and shall provide an opportunity of hearing to the tonnage tax company. However, in case of any mis-reporting by companies on this ac count Directorate General of Shipping shall have the right to reopen and reinvestigate the case and take necessary action as deemed fit. (ii) After hearing such evidence and after taking into account such particulars as the tonnage tax company may produce, the Director General of Shipping shall determine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the day on which such penalty payment is made. Explanation —For the purpose of these Guidelines, any shortfall in meeting the minimum training requirement brought forward from any preceding financial years shall not be considered for calcu lating twenty-five percent of the minimum training requirement. 16. In the event that the tonnage tax company is not in a posi tion to meet any training requirement by virtue of the type of vessels it owns or its trading pattern, such tonnage tax company shall pay ten (10) times such training fees that the Trust would have received from trainee-officer, if they had been accepted for training, in addition to the administrative cost to the Trust in lieu of their obligation hereunder. The Director ..... X X X X Extracts X X X X X X X X Extracts X X X X
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