Rule 11Q - Computation of deemed tonnage - Income-tax Rules, 1962

1 [Computation of deemed tonnage. 11Q . (1) For the purpose of the Explanation to sub-section (4) of section 115VG, deemed tonnage in respect of an arrangement of purchase of slots and slot charter shall be computed (illustrative formula given in Note 3 appearing after the corresponding Form No. 66) on the following basis : 2.5 TEU = 1 Net Tonnage (1 NT) where TEU is Twenty foot Equivalent Unit (Container of this size) (2) Computation of deemed tonnage (illustrative formula given in Note 4 appearing after the corresponding Form No. 66) in respect of an arrangement of sharing of break-bulk vessel shall be made on the following basis : (i) in case where cargo is restricted by volume : 19 cubic meter (cbm) = 1 net tonnage (1 NT); and (ii) in case where cargo is restricted by weight 14 metric tons = 1 net tonnage (1 NT) ] **************** NOTES:- 1. Inserted vide Income-tax (Eighth Amendment) Rules, 2005 dated 29-03-2005 w.e.f. 01-04-2005