https://www.taxtmi.com/manuals?id=1668 Section 115VM confines pre-option losses attributable to a company's tonnage tax business to set-off under Section 72 against relevant shipping income while under the tonnage tax scheme, prohibits their set-off against non-shipping income for years beginning on or after the option date, and requires any necessary apportionment to be made on a reasonable basis. en-us Thu, 27 Jul 2017 17:05:00 +0530 Mon, 06 May 2024 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1668 Section 115VM confines pre-option losses attributable to a company's tonnage tax business to set-off under Section 72 against relevant shipping income while under the tonnage tax scheme, prohibits their set-off against non-shipping income for years beginning on or after the option date, and requires any necessary apportionment to be made on a reasonable basis. Manuals Income Tax Thu, 27 Jul 2017 17:05:00 +0530 https://www.taxtmi.com/manuals?id=1668