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of <h1>Income Tax Bill 2025 Clause 316 maintains 7.5% deemed income tax on non-resident shipping companies from Indian ports</h1> The Income Tax Bill 2025's Clause 316 replaces Section 172 of the Income-tax Act 1961, maintaining the presumptive taxation framework for non-resident shipping companies. Both provisions impose 7.5% deemed income on amounts paid for carriage of passengers, livestock, mail, or goods from Indian ports. Key features include mandatory return filing before ship departure, tax payment linked to port clearance, and optional regular assessment. While structurally similar, Clause 316 updates administrative references and streamlines compliance procedures. The provision balances revenue collection with practical shipping operations, providing predictable tax obligations for foreign entities while ensuring effective enforcement through customs clearance requirements.
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