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of <h1>Income Tax Amendment Extends Section 115V-I Benefits from Ships to Inland Vessels Starting April 2026</h1> Section 115V-I of the Income-tax Act is amended effective April 1, 2026, to expand provisions to include inland vessels alongside ships. The amendment modifies sub-section (2)(ii) to include 'inland vessel related activities' and inserts 'or inland vessels, as the case may be' in the Explanation under sub-clause (A). Similarly, sub-section (6) is amended to include the phrase 'or inland vessel, as the case may be' after 'any ship.' This extends the tax provisions previously applicable only to ships to now cover inland vessels as well.
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