Computation of tonnage income

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..... sub-sections (2) and (3). (2) For the purposes of sub-section (1), the tonnage income of each qualifying ship shall be the daily tonnage income of each such ship multiplied by (a) the number of days in the previous year; or (b) the number of days in part of the previous year in case the ship is operated by the company as a qualifying ship for only part of the previous year, as the case .....

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..... exceeding 25,000 ₹ 11,770 plus ₹ 29 for each 100 tons exceeding 25,000 tons. ] (4) For the purposes of this Chapter, the tonnage shall mean the tonnage of a ship indicated in the certificate referred to in section 115VX and includes the deemed tonnage computed in the prescribed manner. Explanation . For the purposes of this sub-s .....

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..... d in any other provision of this Act, no deduction or set off shall be allowed in computing the tonnage income under this Chapter. ------------------------------------- Notes:- 1. Substituted vide Finance Act, 2012, w.e.f. 01-04-2013, before it was read as:- Qualifying ship having net tonnage Amount of daily tonnage income .....

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