Home > Income Tax Act 2025 > Section-231Last Updated: Feb 22nd 2025
Section-231 seeks to provide for the method of opting of tonnage tax scheme and validity. Learn to understand the section-231 as it is, it's help and useful links to follow.
Here onwards, "Act" refers to "Income Tax Act 2025"
and a copy of such order shall be sent to the applicant.
and the profits and gains of the company from the business of operating qualifying ships shall be computed as per other provisions of this Act.
shall not be eligible to opt for tonnage tax scheme for ten years from the date of opting out or default or order
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.