March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VZC : Exclusion from tonnage tax scheme115VZC. (1) Where a tonnage tax company is a party to any transaction or arrangement […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VZB : Avoidance of tax115VZB. (1) Subject to the provisions of this Chapter, the tonnage tax scheme shall not […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VZA : Effect of temporarily ceasing to operate qualifying ships115VZA. (1) A temporary cessation (as against permanent cessation) of operating any qualifying ship by […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VZ : Demerger115VZ. Where in a scheme of demerger, the demerged company transfers its business to the […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VY : Amalgamation115VY. Where there has been an amalgamation of a company with another company or companies, […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VX : Determination of tonnage115VX. (1) For the purposes of this Chapter,— (a) the tonnage of a ship shall […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VW : Maintenance and audit of accounts115VW. An option for tonnage tax scheme by a tonnage tax company shall not have […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VV : Limit for charter in of tonnage115VV. (1) In the case of every company which has opted for tonnage tax scheme, […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VU : Minimum training requirement for tonnage tax company115VU. (1) A tonnage tax company, after its option has been approved under sub-section (3) […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VT : Transfer of profits to Tonnage Tax Reserve Account115VT. (1) A tonnage tax company shall, subject to and in accordance with the provisions […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VS : Prohibition to opt for tonnage tax scheme in certain cases115VS. A qualifying company, which, on its own, opts out of the tonnage tax scheme […]
March 5, 2018Published by Law@HostBooks at March 5, 2018Categories CHAPTER XIIG - Special provisions relating to income of shipping companies Income-tax Act 1961Section – 115VR : Renewal of tonnage tax scheme115VR. (1) An option for tonnage tax scheme approved under sub- section (3) of section […]