https://www.taxtmi.com/acts?id=48333 The amendment permits, for a Government or public company formed and registered in India whose main object is operation of ships, a deduction not exceeding fifty per cent of profits from ship operations (computed under Profits and gains of business or profession and before any deduction under this section) where that amount is debited to the profit and loss account of the relevant previous year and credited to a reserve account to be utilised in the manner prescribed by the section. en-us Fri, 31 Jan 2025 14:10:00 +0530 Fri, 31 Jan 2025 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48333 The amendment permits, for a Government or public company formed and registered in India whose main object is operation of ships, a deduction not exceeding fifty per cent of profits from ship operations (computed under Profits and gains of business or profession and before any deduction under this section) where that amount is debited to the profit and loss account of the relevant previous year and credited to a reserve account to be utilised in the manner prescribed by the section. Act-Rules F. Acts / Amendment Acts Fri, 31 Jan 2025 14:10:00 +0530 https://www.taxtmi.com/acts?id=48333