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of <h1>Inland Vessels Now Included in Income-tax Act Section 115VV Alongside Ships, Effective April 2026</h1> Section 115VV of the Income-tax Act is amended effective April 1, 2026. The amendment modifies sub-section (4) by replacing 'chartered in' with 'or inland vessels, as the case may be, chartered in.' Additionally, in the Explanation section, the words 'or inland vessel, as the case may be,' are inserted after 'a ship.' This amendment expands the scope of the provision to include inland vessels alongside ships.
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