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)
Tonnage tax option requires separate ship accounts and a prescribed, verified accountant report filed by the specified audit date. An option for the tonnage tax regime is effective for a previous year only if the company maintains separate books of account for operating qualifying ships and furnishes, before the specified audit filing date, an accountant's report in the prescribed form duly signed and verified; 'accountant' is defined as per the income-tax audit explanatory provision.
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.
Tonnage tax option requires separate ship accounts and a prescribed, verified accountant report filed by the specified audit date.
An option for the tonnage tax regime is effective for a previous year only if the company maintains separate books of account for operating qualifying ships and furnishes, before the specified audit filing date, an accountant's report in the prescribed form duly signed and verified; "accountant" is defined as per the income-tax audit explanatory provision.
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