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Section 115VR: Renewal of tonnage tax scheme

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Repealed.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 Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

Renewal of tonnage tax scheme.

(1) An option for tonnage tax scheme approved under sub-section (3) of section 115VP may be renewed within one year from the end of the previous year in which the option ceases to have effect.

(2) The provisions of sections 115VP and 115VQ shall apply in relation to a renewal of the option for tonnage tax scheme in the same manner as they apply in relation to the approval of option for tonnage tax scheme.

Where this provision sits

ActThe Income-tax Act, 1961
Section115VR
Marginal noteRenewal of tonnage tax scheme
JurisdictionCentral
StatusRepealed

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