https://www.taxtmi.com/circulars?id=2897 Payment of the levy on each voyage by non-resident ship owners or charterers is to be treated as advance tax instalments; if the assessee opts for regular assessment under section 172(7) those payments are treated as tax paid in advance for that year. Administrative guidance denying interest consequences is withdrawn: regular assessment attracts standard interest liabilities for defaults and entitles the assessee to interest on any refund. en-us Mon, 09 Jul 2001 00:00:00 +0530 Sat, 09 Aug 2008 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2897 Payment of the levy on each voyage by non-resident ship owners or charterers is to be treated as advance tax instalments; if the assessee opts for regular assessment under section 172(7) those payments are treated as tax paid in advance for that year. Administrative guidance denying interest consequences is withdrawn: regular assessment attracts standard interest liabilities for defaults and entitles the assessee to interest on any refund. Circulars Income Tax Mon, 09 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2897