Determination of tonnage - Section 115VX - Income Tax - Ready Reckoner - Income Tax

Determination of tonnage - Section 115VX For the purposes of this Chapter, (a) the tonnage of a ship shall be determined in accordance with the valid certificate indicating its tonnage (b) valid certificate means, (i) in case of ships registered in India (a) having a length of less than 24 metres, a certificate issued under the Merchant Shipping (Tonnage Measurement of Ship) Rules, 1987 made under the Merchant Shipping Act, 1958 (b) having a length of 24 metres or more, an international tonnage certificate issued under the provisions of the Convention on Tonnage Measurement of Ships, 1969, as specified in the Merchant Shipping (Tonnage Measurement of Ship) Rules, 1987 made under the Merchant Shipping Act, 1958. (ii) in case of ships registered outside India A licence issued by the Director-General of Shipping under section 406 or section 407 of the Merchant Shipping Act, 1958 specifying the net tonnage on the basis of Tonnage Certificate issued by the Flag State Administration where the ship is registered or any other evidence acceptable to the Director-General of Shipping produced by the ship owner while seeking permission for chartering in the ship.