Shipping profits relief under DTAs applies at ad hoc assessment stages, subject to restrictions for occasional shipping. Non resident shipping companies covered by certain Double Taxation Agreements are entitled to a reciprocity reduction of Indian tax on profits from international shipping. Some DTAs preserve domestic ad hoc assessment rules for occasional shipping or tramp steamers, postponing the reduction until adjustment under the statutory final assessment mechanism; in DTAs without that restriction the specified reduction applies even at the ad hoc assessment stage prior to ship departure.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Shipping profits relief under DTAs applies at ad hoc assessment stages, subject to restrictions for occasional shipping.
Non resident shipping companies covered by certain Double Taxation Agreements are entitled to a reciprocity reduction of Indian tax on profits from international shipping. Some DTAs preserve domestic ad hoc assessment rules for occasional shipping or tramp steamers, postponing the reduction until adjustment under the statutory final assessment mechanism; in DTAs without that restriction the specified reduction applies even at the ad hoc assessment stage prior to ship departure.
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