TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 115VZ allows tonnage tax scheme continuity for both demerged and resulting shipping companies during corporate restructuring</h1> Section 115VZ of the Income Tax Act, 1961 governs demerger scenarios involving shipping companies under tonnage tax schemes. When a demerged company transfers its business to a resulting company before the tonnage tax option expires, the scheme continues to apply to the resulting company for the remaining period, provided it qualifies as an eligible company. Simultaneously, the original demerged company retains its tonnage tax option for the unexpired duration if it maintains qualifying company status. This provision ensures continuity of tax benefits during corporate restructuring of shipping businesses.
TaxTMI 
TaxTMI 
