Scope expansion of section 115VG to include inland vessels, extending Income-tax Act coverage for waterborne craft. Amendment inserts the phrase "or inland vessel, as the case may be," into section 115VG(4) of the Income-tax Act immediately after the words "a ship," ... Summary
Scope expansion of section 115VG to include inland vessels, extending Income-tax Act coverage for waterborne craft.
Amendment inserts the phrase "or inland vessel, as the case may be," into section 115VG(4) of the Income-tax Act immediately after the words "a ship," thereby extending the provision's textual scope to cover inland vessels alongside ships and is prescribed to take effect from the 1st April, 2026.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.