Thursday, 13 May 2021

Income Tax Section - 115VF, Income Tax Act, 1961-2020

  Income Tax

Section - 115VF, Income Tax Act, 1961-2020


Tonnage income.

115VF. Subject to the other provisions of this Chapter, the tonnage income shall be computed in accordance with section 115VG and the income so computed shall be deemed to be the profits chargeable under the head "Profits and gains of business or profession" and the relevant shipping income referred to in sub-section (1) of section 115V-I shall not be chargeable to tax.


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