https://www.taxtmi.com/acts?id=48760 Profits of ships belonging to or chartered by non-residents from carriage shipped at an Indian port are taxed by treating a fixed portion of amounts paid or payable as income accruing in India. The ship's master must return full amounts received for such carriage before departure, with filers authorised post-departure within thirty days where necessary. The Assessing Officer assesses that deemed income, determines tax payable at specified company rates, may call for documents, and port clearance may be withheld until tax is paid or secured. Payments may be adjusted against a subsequent total-income assessment and subject to a nine-month assessment limitation. en-us Fri, 14 Feb 2025 11:40:26 +0530 Fri, 14 Feb 2025 11:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48760 Profits of ships belonging to or chartered by non-residents from carriage shipped at an Indian port are taxed by treating a fixed portion of amounts paid or payable as income accruing in India. The ship's master must return full amounts received for such carriage before departure, with filers authorised post-departure within thirty days where necessary. The Assessing Officer assesses that deemed income, determines tax payable at specified company rates, may call for documents, and port clearance may be withheld until tax is paid or secured. Payments may be adjusted against a subsequent total-income assessment and subject to a nine-month assessment limitation. Act-Rules Bills Fri, 14 Feb 2025 11:40:26 +0530 https://www.taxtmi.com/acts?id=48760