Computation of tonnage income

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....sions of sub-sections (2) and (3). (2) For the purposes of sub-section (1), the tonnage income of each qualifying ship shall be the daily tonnage income of each such ship multiplied by- (a)  the number of days in the previous year; or (b)  the number of days in part of the previous year in case the ship is operated by the company as a qualifying ship for only part of....

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.... ship ^3[or inland vessel, as the case may be,] indicated in the certificate referred to in section 115VX and includes the deemed tonnage computed in the prescribed manner. Explanation. For the purposes of this sub-section, "deemed tonnage" shall be the tonnage in respect of an arrangement of purchase of slots, slot charter and an arrangement of sharing of break-bulk vessel. (5) The tonnage ....

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....:- 1.  Inserted vide Section 30 of the Finance (No. 2) Act, 2004 w.e.f. 01-04-2005 2. Substituted vide section 58 of the Finance Act, 2012, w.e.f. 01-04-2013, before it was read as:- Qualifying ship having net tonnage Amount of daily tonnage income (1) (2) up to 1,000 Rs. 46 for each 100 tons exceeding 1,000 but not more than 10,000 ....