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of <h1>New Tax Rule: Section 44BBC Sets 20% Tax Rate on Non-Residents' Cruise Ship Profits Starting April 2025.</h1> Section 44BBC of the Income-tax Act, 1961, establishes a special provision for calculating the profits and gains of non-residents engaged in the operation of cruise ships. Regardless of other sections, 20% of specified amounts will be considered taxable profits. These amounts include payments made to the non-resident or on their behalf for passenger carriage, as well as amounts received or deemed received for the same purpose. This provision was introduced by the Finance (No. 2) Act, 2024, effective from April 1, 2025.
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