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of <h1>Non-resident shipping entities u/s 172 exempt from advance tax for shipping income; other incomes may still apply.</h1> Non-resident shipping entities paying tax under Section 172 of the Income-tax Act, 1961 are exempt from paying advance tax under Section 210 for income derived from their shipping business. Section 172 provides a special tax levy and recovery method before a non-resident-owned or chartered ship departs an Indian port. The Board has decided not to issue advance tax notices to these non-resident shipping owners or charterers for income deemed to arise in India under Section 172(2). However, advance tax notices may still be issued for any other income not covered by Section 172(2).
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