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Section 115VA: Computation of profits and gains from the business of operating qualifying ships

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

B.—Computation of tonnage income from business of operating qualifying ships

Computation of profits and gains from the business of operating qualifying ships.

Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of a company, the income from the business of operating qualifying ships, may, at its option, be computed in accordance with the provisions of this Chapter and such income shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession".

Where this provision sits

ActThe Income-tax Act, 1961
Section115VA
Marginal noteComputation of profits and gains from the business of operating qualifying ships
JurisdictionCentral
StatusRepealed

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