Tonnage tax scope expanded to include inland vessels, extending qualifying activities and income computation to inland vessel operations. Amendment expands section 115V-I to include inland vessels within the tonnage tax regime: sub-section (2) is modified to cover ship-related or inland vessel-related core activities and the Explanation in sub-clause (A) is amended to reference inland vessels; sub-section (6) is altered so income from operating any non-qualifying ship or inland vessel is computed under other provisions of the Income-tax Act. The amendments take effect from 1 April 2026 and apply to the assessment year 2026-2027 and thereafter.
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Tonnage tax scope expanded to include inland vessels, extending qualifying activities and income computation to inland vessel operations.
Amendment expands section 115V-I to include inland vessels within the tonnage tax regime: sub-section (2) is modified to cover ship-related or inland vessel-related core activities and the Explanation in sub-clause (A) is amended to reference inland vessels; sub-section (6) is altered so income from operating any non-qualifying ship or inland vessel is computed under other provisions of the Income-tax Act. The amendments take effect from 1 April 2026 and apply to the assessment year 2026-2027 and thereafter.
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