Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure 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-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Minimum training requirement for tonnage tax companies requires certified compliance and annual filing; five year failure voids option. A tonnage tax company whose option is approved must meet the minimum training requirement for trainee officers per guidelines of the Director General of Shipping and furnish the Director General's certificate with its section 139 return that the requirement was met for the previous year; failure to comply for five consecutive previous years causes the company's option for the tonnage tax scheme to cease from the beginning of the previous year following the fifth year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Minimum training requirement for tonnage tax companies requires certified compliance and annual filing; five year failure voids option.
A tonnage tax company whose option is approved must meet the minimum training requirement for trainee officers per guidelines of the Director General of Shipping and furnish the Director General's certificate with its section 139 return that the requirement was met for the previous year; failure to comply for five consecutive previous years causes the company's option for the tonnage tax scheme to cease from the beginning of the previous year following the fifth year.
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