Budget 2012: Highlights - Tonnage Tax

Author:Mr Anil Harish
Profession:D.M. Harish & Co.
 
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The Finance Bill, 2012 seeks to amend Sec. 115VG of the Income-tax Act relating to computation of tonnage income.

The existing Table in sub-Sec. (3) of the aforesaid Sec. provides for the amount of daily tonnage income of a qualifying ship.

It is proposed to substitute the Table in order to increase the amount of...

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