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of <h1>Finance Bill 2020 amends section 115VW, changing accountant's report deadline for tonnage tax companies to align with section 44AB.</h1> Clause 63 of the Finance Bill, 2020, amends section 115VW of the Income-tax Act concerning the maintenance and audit of accounts for tonnage tax companies. Previously, companies were required to submit an accountant's report along with their income return for the previous year. The amendment changes this requirement, mandating that the report be furnished before the specified date in section 44AB, which is one month before the due date for filing income returns under section 139(1). This amendment is effective from April 1, 2020, and applies to the assessment year 2020-2021 and subsequent years.
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