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<h1>Bareboat Charter-Cum-Demise Explained: Section 115V(b) of Income Tax Act 1961 for Shipping Companies' Income Transfers</h1> A 'bareboat charter-cum-demise' is defined under section 115V(b) of the Income Tax Act 1961, within Chapter XII-G, which pertains to the income of shipping companies. It refers to a bareboat charter arrangement where the ownership of the ship is intended to be transferred to the chartering company after a specified period.