Section 115VH: Calculation in case of joint operation, etc

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Repealed.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 Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

Calculation in case of joint operation, etc.

(1) Where a qualifying ship is operated by two or more companies by way of joint interest in the ship or by way of an agreement for the use of the ship and their respective shares are definite and ascertainable, the tonnage income of each such company shall be an amount equal to a share of income proportionate to its share of that interest.

(2) Subject to the provisions of sub-section (1), where two or more companies are operators of a qualifying ship, the tonnage income of each company shall be computed as if each had been the only operator.

Where this provision sits

Act	The Income-tax Act, 1961
Section	115VH
Marginal note	Calculation in case of joint operation, etc
Jurisdiction	Central
Status	Repealed

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