Amalgamation and Demerger of shipping companies - Section 115VY & Section 115VZ

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Full Text of the Document

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....nage tax scheme shall, as far as may be, apply to the amalgamated company if it is a qualifying company. Situation Consequences 1. Where the amalgamated company is not a tonnage tax company at the time of amalgamation but amalgamated company is a qualifying company It shall exercise an option for tonnage tax scheme u/s 115VP(1) within 3 months from the date of the approval of the scheme o....