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of <h1>New Section 44BBC in Income-tax Act: Special Tax Provision for Non-Resident Cruise Ship Businesses from April 2025</h1> Clause 17 of the Finance (No. 2) Bill, 2024 introduces section 44BBC to the Income-tax Act, effective April 1, 2025. This section establishes a special provision for non-residents operating cruise ship businesses. It specifies that 20% of certain amounts will be considered taxable profits and gains. These amounts include those paid or payable to the assessee or on their behalf for passenger carriage, as well as amounts received or deemed received for the same purpose. This provision applies from the assessment year 2025-2026 onwards.
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