https://www.taxtmi.com/manuals?id=1665 Section 115VJ requires that common costs shared between a tonnage tax business and other activities be allocated on a reasonable basis. For assets other than qualifying ships used for both tonnage tax and other business, depreciation must be apportioned between the two activities in a fair proportion to be determined by the Assessing Officer with reference to the asset's use for the tonnage tax business and for other business. en-us Thu, 27 Jul 2017 14:13:00 +0530 Mon, 06 May 2024 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1665 Section 115VJ requires that common costs shared between a tonnage tax business and other activities be allocated on a reasonable basis. For assets other than qualifying ships used for both tonnage tax and other business, depreciation must be apportioned between the two activities in a fair proportion to be determined by the Assessing Officer with reference to the asset's use for the tonnage tax business and for other business. Manuals Income Tax Thu, 27 Jul 2017 14:13:00 +0530 https://www.taxtmi.com/manuals?id=1665