Section-225: Income from business of operating qualifying ships

Section-225 : Income from business of operating qualifying ships

Section-225 seeks to provide for Income from business of operating qualifying ships and the option to tax payers to opt for the scheme of tonnage tax. Learn to understand the section-225 as it is, it's help and useful links to follow.

Here onwards, "Act" refers to "Income Tax Act 2025"

1. Section-225 as per act

Irrespective of anything contained in sections 26 to 54 (except 50 and 53), in the case of a company, the income from the business of operating qualifying ships––

may, at its option, be computed as per provisions of this Part; and
such income shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession"