Clause 16 - Amendment of section 44B. - Finance (No. 2) Bill, 2024

Amendment of section 44B. 16. In section 44B of the Income-tax Act, with effect from the 1st day of April, 2025, (a) for the marginal heading, the following marginal heading shall be substituted, namely: Special provision for computing profits and gains of shipping business other than cruise shipping in case of non-residents ; (b) in sub-section (1), after the words business of operation of ships, , the words, figures and letters other than cruise ships referred to in section 44BBC, shall be inserted.