Tonnage tax scheme.

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..... the case may be, has been chartered in by it in an arrangement such as slot charter, space charter or joint charter; and (b) not be regarded as operating a ship or inland vessel, as the case may be, which has been chartered out by it on bareboat charter-cum-demise terms or on bareboat charter terms for a period exceeding three years. (2) A tonnage tax company engaged in the business of operatin .....

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..... . (7) Subject to the other provisions of this Part,-- (a) the tonnage income, shall be-- (i) computed as per section 227; and (ii) deemed to be the profits chargeable under the head "Profits and gains of business or profession"; and (b) the relevant shipping income referred to in section 228(1) shall not be chargeable to tax. - Clause 226 of the Bill seeks to provide for tonnage tax sc .....

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