Comparison of section 225 "Income from business of operating qualifying ships." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)
5 September, 2025
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Tonnage tax option for ship operators permits elective computation and deems such income as business income. The provision allows companies operating qualifying ships to elect a special tonnage computation and deems the resulting amount to be profits and gains of ... Summary
Tonnage tax option for ship operators permits elective computation and deems such income as business income.
The provision allows companies operating qualifying ships to elect a special tonnage computation and deems the resulting amount to be profits and gains of business or profession, while the enacted text limits the clause's non-application by preserving the operation of certain specified provisions.
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