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of <h1>Simplified Tonnage-Based Tax Regime for Shipping Companies Offers Alternative Income Calculation Method Under New Bill</h1> Concise Legal Summary:The Income Tax Bill, 2025, Clause 226(2)-(6) introduces a presumptive taxation scheme for shipping companies, closely mirroring the existing Section 115VE of the Income-tax Act, 1961. The provisions establish a separate taxation mechanism for shipping businesses based on ship tonnage, allowing companies to opt into a simplified tax computation method. The scheme mandates separate accounting, requires a formal election, and provides an alternative to standard income tax calculations for qualifying shipping companies, maintaining administrative simplicity and international competitiveness in the maritime sector.
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