9911796707
TMI BlogComputation of tonnage income.X X X X Extracts X X X X X X X X Extracts X X X X ..... he tonnage income of each qualifying ship shall be computed as per the following formula:-- TI= DTI x N where,- TI = the tonnage income of each qualifying ship; DTI = the daily tonnage income of each qualifying ship; N = the number of days, in the tax year, or in part of the tax year in case the ship is operated by the company as a qualifying ship for only part of the tax year. (3) For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icated in the certificate referred to in sub-section (9); and (b) include the deemed tonnage, being the tonnage in respect of an arrangement of purchase of slots, slot charter and an arrangement of sharing of break-bulk vessel, computed in the manner, as prescribed. (5) The tonnage shall be rounded off to the nearest multiple of hundred tons and for this purpose any tonnage consisting of kilogr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es are definite and ascertainable, the tonnage income of each such company shall be an amount equal to a share of income proportionate to its share of that interest. (8) Subject to the provisions of sub-section (7), where two or more companies are operators of a qualifying ship, the tonnage income of each company shall be computed as if each had been the only operator. (9) In this Part,-- (a) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der section 406 or 407 of the Merchant Shipping Act, 1958 (44 of 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; (iii) in case of inland vessel registered in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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