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COMPUTATION OF TONNAGE INCOME SECTION- 115 VG

Income Tax - Tax Liability in special Circumstances / Specific Cases - 03 - The tonnage income of a tonnage tax company for a previous year shall be the aggregate of the tonnage income of each qualifying ship computed in accordance with the provisions of sub-sections (2) and (3). For the purposes of sub-section (1), the tonnage income of each qualifying ship shall be the daily tonnage income of each such slip multiplied by- The number of days in the previous year; or The number of days in part o .....

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4 Up to 1,000 Rs.46 for each 10 tons Rs.70 for each 100 tons Exceeding 1,000 but not more than 10,000 Rs.460 plus ₹ 35 for each 100 tons exceeding 1,000 tons Rs.700 plus ₹ 53 for each 100 tons exceeding 1,000 tons. Exceeding 10,000 but not more than 25,000. Rs.3,610 plus ₹ 28 for each 100 tons exceeding 10,000 tons. Rs.5,470 plus ₹ 42 for each 100 tons exceeding 10,000 tons. Exceeding 25,000 Rs.7,810 plus ₹ 19 for each 100 tons exceeding 25,000 tons. Rs.11,770 plus .....

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