Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Tonnage income computation allows companies operating qualifying ships to elect a statutory method that defines taxable business profits. Companies operating qualifying ships may, by election, compute income from that business under the Chapter's tonnage method, and such computed tonnage ... Summary
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Tonnage income computation allows companies operating qualifying ships to elect a statutory method that defines taxable business profits.
Companies operating qualifying ships may, by election, compute income from that business under the Chapter's tonnage method, and such computed tonnage income shall be deemed the profits and gains of the business chargeable to tax under the head "Profits and gains of business or profession."
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