https://www.taxtmi.com/manuals?id=1671 A qualifying company may opt into the tonnage tax scheme by applying to the Joint Commissioner in the prescribed form. Existing companies could apply during an initial period; other qualifying companies must apply within three months of incorporation or of becoming qualifying, and an IFSC unit losing section 80LA deduction may apply within three months of cessation. The Joint Commissioner may seek information, and must pass a written order approving or refusing the option after giving a reasonable opportunity of hearing; approval takes effect from the assessment year relevant to the previous year in which the option is exercised. en-us Thu, 27 Jul 2017 17:37:00 +0530 Wed, 09 Apr 2025 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1671 A qualifying company may opt into the tonnage tax scheme by applying to the Joint Commissioner in the prescribed form. Existing companies could apply during an initial period; other qualifying companies must apply within three months of incorporation or of becoming qualifying, and an IFSC unit losing section 80LA deduction may apply within three months of cessation. The Joint Commissioner may seek information, and must pass a written order approving or refusing the option after giving a reasonable opportunity of hearing; approval takes effect from the assessment year relevant to the previous year in which the option is exercised. Manuals Income Tax Thu, 27 Jul 2017 17:37:00 +0530 https://www.taxtmi.com/manuals?id=1671