Section 115VD - Qualifying ship - Income-tax Act, 1961

Qualifying ship. 115VD. For the purposes of this Chapter, a ship is a qualifying ship if- ( a ) it is a sea going ship or vessel of fifteen net tonnage or more; ( b ) it is a ship registered under the Merchant Shipping Act, 1958 (44 of 1958), or a ship registered outside India in respect of which a licence has been issued by the Director-General of Shipping under section 406 or section 407 of the Merchant Shipping Act, 1958 (44 of 1958); and ( c ) a valid certificate in respect of such ship indicating its net tonnage is in force, but does not include- ( i ) a sea going ship or vessel if the main purpose for which it is used is the provision of goods or services of a kind normally provided on land; ( ii ) fishing vessels; ( iii ) factory ships; ( iv ) pleasure crafts; ( v ) harbour and river ferries; ( vi ) offshore installations; ( vii ) 1 [ *** ] ( viii ) a qualifying ship which is used as a fishing vessel for a period of more than thirty days during a previous year. --------------------------- Notes :- 1. Omitted by the Finance Act, 2005, w.e.f. 1-4-2006. Prior to its omission, clause (vii) read as under: (vii) dredgers;