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of <h1>New Section 44BBC in Income-tax Act: 20% of Cruise Ship Business Income Taxable for Non-Residents from April 2025.</h1> A new section, 44BBC, is added to the Income-tax Act, effective April 1, 2025, concerning non-residents operating cruise ship businesses. It stipulates that 20% of specified amounts will be considered taxable profits and gains under 'Profits and gains of business or profession.' These amounts include payments made to the assessee or on their behalf for passenger carriage, and amounts received or deemed received by the assessee for the same purpose. This provision overrides sections 28 to 43A and is subject to prescribed conditions.
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