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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Shipping Income Tax Computation Defined for Qualifying Ships in Income Tax Bill, 2025; Profits from Business Category.</h1> Income from the business of operating qualifying ships for a company can be computed according to specific provisions outlined in this part of the Income Tax Bill, 2025. This income is considered profits and gains from business, taxable under the category 'Profits and gains of business or profession,' regardless of other sections (26 to 54) in the legislation. This provides shipping companies with an option for calculating taxable income specifically related to their shipping operations.
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