Tonnage tax definitions shape shipping company eligibility, qualifying ships, and excluded vessel categories under the income tax regime. Special provisions for income of shipping companies define the core terms governing the tonnage tax regime, including bareboat charter, bareboat charter-cum-demise, qualifying company, qualifying ship, seagoing ship, tonnage income, tonnage tax activities, tonnage tax business, tonnage tax company, and tonnage tax scheme. A qualifying company must be an Indian company with its place of effective management in India, at least one qualifying ship, and the main object of carrying on the business of operating ships. A qualifying ship must meet registration, tonnage, and certification requirements and excludes several specified vessel categories.
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Provisions expressly mentioned in the judgment/order text.
Tonnage tax definitions shape shipping company eligibility, qualifying ships, and excluded vessel categories under the income tax regime.
Special provisions for income of shipping companies define the core terms governing the tonnage tax regime, including bareboat charter, bareboat charter-cum-demise, qualifying company, qualifying ship, seagoing ship, tonnage income, tonnage tax activities, tonnage tax business, tonnage tax company, and tonnage tax scheme. A qualifying company must be an Indian company with its place of effective management in India, at least one qualifying ship, and the main object of carrying on the business of operating ships. A qualifying ship must meet registration, tonnage, and certification requirements and excludes several specified vessel categories.
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