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of <h1>Income Tax Bill 2025: Clause 227 Details Tonnage Income Calculation for Shipping Companies</h1> Clause 227 of the Income Tax Bill, 2025, outlines the computation of tonnage income for shipping companies. Tonnage income for a tax year is calculated by aggregating the tonnage income of each qualifying ship. This is determined using a formula based on daily tonnage income and the number of operational days. The income varies depending on the ship's net tonnage, with specific rates applied per tonnage category. Tonnage is rounded to the nearest hundred tons, and no deductions are allowed. For ships operated by multiple companies, income is proportionally shared. Tonnage is verified through valid certificates as per specified regulations.
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