Tonnage tax compliance: minimum training certificates and updated shipping authority references for income tax filing. A tonnage tax company, after approval of its option under section 231(4), must comply with the minimum training requirement under guidelines issued by the Director-General of Shipping or the Inland Waterways Authority of India, as notified by the Central Government. The company must furnish, with its return of income under section 263, a certificate from the relevant authority confirming compliance for the tax year. The reference in sub-section (17) is extended to include the Inland Waterways Authority of India.
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Provisions expressly mentioned in the judgment/order text.
Tonnage tax compliance: minimum training certificates and updated shipping authority references for income tax filing.
A tonnage tax company, after approval of its option under section 231(4), must comply with the minimum training requirement under guidelines issued by the Director-General of Shipping or the Inland Waterways Authority of India, as notified by the Central Government. The company must furnish, with its return of income under section 263, a certificate from the relevant authority confirming compliance for the tax year. The reference in sub-section (17) is extended to include the Inland Waterways Authority of India.
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