https://www.taxtmi.com/acts?id=51758 Relevant shipping income of a tonnage tax company consists of profits from core activities and incidental activities, subject to exclusion of excess incidental income above the prescribed turnover threshold. Core activities cover operating qualifying ships and specified ship-related or inland vessel-related activities, while incidental activities are those incidental to core activities and as may be prescribed. Income from non-qualifying ships is computed under the general provisions, transfers between tonnage tax business and other business are deemed at market value where necessary, losses are ignored for tonnage income, and the related book profit or loss is excluded from book profit. en-us Thu, 14 Aug 2025 11:59:03 +0530 Mon, 06 Apr 2026 10:59:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51758 Relevant shipping income of a tonnage tax company consists of profits from core activities and incidental activities, subject to exclusion of excess incidental income above the prescribed turnover threshold. Core activities cover operating qualifying ships and specified ship-related or inland vessel-related activities, while incidental activities are those incidental to core activities and as may be prescribed. Income from non-qualifying ships is computed under the general provisions, transfers between tonnage tax business and other business are deemed at market value where necessary, losses are ignored for tonnage income, and the related book profit or loss is excluded from book profit. Act-Rules Income Tax Thu, 14 Aug 2025 11:59:03 +0530 https://www.taxtmi.com/acts?id=51758