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Section 115VS: Prohibition to opt for tonnage tax scheme in certain cases

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Repealed.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 Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

Prohibition to opt for tonnage tax scheme in certain cases.

A qualifying company, which, on its own, opts out of the tonnage tax scheme or makes a default in complying with the provisions of section 115VT or section 115VU or section 115VV or whose option has been excluded from tonnage tax scheme in pursuance of an order made under sub-section (1) of section 115VZC, shall not be eligible to opt for tonnage tax scheme for a period of ten years from the date of opting out or default or order, as the case may be.

Where this provision sits

ActThe Income-tax Act, 1961
Section115VS
Marginal noteProhibition to opt for tonnage tax scheme in certain cases
JurisdictionCentral
StatusRepealed

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