VALIDATION OF THE CENTRAL CIVIL SERVICES (PENSION) RULES AND PRINCIPLES FOR EXPENDITURE ON PENSION LIABILITES FROM THE CONSOLIDATED FUND OF INDIA - Finance Act, 2025
VALIDATION OF THE CENTRAL CIVIL SERVICES (PENSION) RULES AND PRINCIPLES FOR EXPENDITURE ON PENSION LIABILITES FROM THE CONSOLIDATED FUND OF INDIA - Finance Act, 2025
Definition change: 'inland vessel' incorporated into tax provision, linked to Inland Vessels Act effective next fiscal year. Amendment expands the income-tax provision by replacing the term "ship" with "ship or inland vessel, as the case may be" in specified clauses of section ... Summary
Definition change: 'inland vessel' incorporated into tax provision, linked to Inland Vessels Act effective next fiscal year.
Amendment expands the income-tax provision by replacing the term "ship" with "ship or inland vessel, as the case may be" in specified clauses of section 115V effective 1 April 2026, and inserts a clause defining "inland vessel" by reference to clause (q) of section 3 of the Inland Vessels Act, 2021, thereby aligning the tax provision's scope with the statutory definition in the inland-vessel regime.
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