Definition of tonnage expanded to include inland vessels, extending tonnage computation to inland shipping under income-tax law. The amendment expands the definition of tonnage in sub-section (4) for Chapter XII-G to include inland vessels alongside ships, so that tonnage for inland vessels will be determined by the certificate referred to in the prescribed regime and by deemed tonnage computed in the prescribed manner. The change takes effect from 1st April, 2026 and applies to the assessment year 2026-2027 and subsequent assessment years.
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Definition of tonnage expanded to include inland vessels, extending tonnage computation to inland shipping under income-tax law.
The amendment expands the definition of tonnage in sub-section (4) for Chapter XII-G to include inland vessels alongside ships, so that tonnage for inland vessels will be determined by the certificate referred to in the prescribed regime and by deemed tonnage computed in the prescribed manner. The change takes effect from 1st April, 2026 and applies to the assessment year 2026-2027 and subsequent assessment years.
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