Section 44BBC - Special provision for computing profits and gains of business of operation of cruise ships in case of non-residents

Presumptive taxation for cruise ship operations: non-residents face deemed taxable portion of passenger receipts under the new regime.

A presumptive taxation regime for non-resident cruise-ship operators treats income from carriage of passengers as business income and taxes a fixed deemed portion of aggregate passenger receipts and amounts paid or payable for carriage as taxable profits, without allowing business expenditure deductions; eligibility requires meeting prescribed vessel, voyage, passenger-service and procedural conditions. Separately, a temporary exemption excludes lease rental income of a foreign lessor from total income where the lessor and the specified operator are subsidiaries of the same holding company and the operator opts into the presumptive regime.