Special provision for computing profits and gains of business of operation of cruise ships in case of non-residents - Section 44BBC

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . 2) Act, 2024 ] Applicability In the case of an assessee, being a non-resident, engaged in the business of operation of cruise ships subject to such conditions as may be prescribed, Chargeable under head Income form such business chargeable to tax under the head Profits and gains of business or profession. Deemed Profit Taxable A sum equal to 20% of the aggregate of the amounts of (a) the amount .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sessment year beginning on or before the 1st day of April, 2030. For the purposes of this clause, - (a) specified company means any company, other than a domestic company which operates cruise ships in India and opts to pay tax in accordance with the provisions of section 44BBC; (b) holding company , in relation to a foreign company or a specified company, means a company of which such companies a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X