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of <h1>Income Tax Act Amendment Extends Section 115VT Benefits to Inland Vessels Alongside Ships from April 2026</h1> Section 115VT of the Income-tax Act is amended effective April 1, 2026, to include inland vessels alongside ships in its provisions. The amendment inserts 'or new inland vessel, as the case may be' after 'new ship' in sub-section (3), modifies clause (c) of sub-section (4) to reference both ships and inland vessels, and updates the Explanation to clarify that references to 'new ship or new inland vessel' include both vessel types. This expands the scope of applicable tax provisions to inland vessels.
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