Clause 26 - Amendment of section 115V. - Finance Bill, 2025

Amendment of section 115V. 26. In section 115V of the Income-tax Act, with effect from the 1st April, 2026, (i) in clauses (a), (b), (f) and (h), for the word ship , the words ship or inland vessel, as the case may be, shall be substituted; (ii) after clause (e), the following clause shall be inserted, namely: (ea) inland vessel shall have the same meaning as assigned to it in clause (q) of section 3 of the Inland Vessels Act, 2021 (24 of 2021.); .