Deemed income on non-resident shipping: carriage from Indian ports attracts tax with master reporting and port clearance controls. Profits of ships belonging to or chartered by non-residents from carriage shipped at an Indian port are taxed by treating a fixed portion of amounts paid or payable as income accruing in India. The ship's master must return full amounts received for such carriage before departure, with filers authorised post-departure within thirty days where necessary. The Assessing Officer assesses that deemed income, determines tax payable at specified company rates, may call for documents, and port clearance may be withheld until tax is paid or secured. Payments may be adjusted against a subsequent total-income assessment and subject to a nine-month assessment limitation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed income on non-resident shipping: carriage from Indian ports attracts tax with master reporting and port clearance controls.
Profits of ships belonging to or chartered by non-residents from carriage shipped at an Indian port are taxed by treating a fixed portion of amounts paid or payable as income accruing in India. The ship's master must return full amounts received for such carriage before departure, with filers authorised post-departure within thirty days where necessary. The Assessing Officer assesses that deemed income, determines tax payable at specified company rates, may call for documents, and port clearance may be withheld until tax is paid or secured. Payments may be adjusted against a subsequent total-income assessment and subject to a nine-month assessment limitation.
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