Pleasure craft classification covers ships or inland vessels primarily used for sport or recreation under income-tax law. Pleasure craft means a ship or inland vessel whose primary use is sport or recreation for income-tax purposes. The definition under section 235 of the ... Summary
Pleasure craft classification covers ships or inland vessels primarily used for sport or recreation under income-tax law.
Pleasure craft means a ship or inland vessel whose primary use is sport or recreation for income-tax purposes. The definition under section 235 of the Income Tax Act, 2025 corresponds to section 115V(f) of the Income Tax Act, 1961.
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