Shipping companies that operate qualifying ships can opt for the tonnage tax scheme, which simplifies the process of calculating income tax. Section 115VG of the Income Tax Act lays down…
Shipping companies in India have a unique tax regime under the Income Tax Act, known as the tonnage tax system, designed to simplify the process of calculating taxes. One of…
The tonnage tax scheme is a specialized tax regime designed for companies operating qualifying ships, providing them with a unique method of calculating their taxable income. Section 115VE of the…
The shipping industry plays a crucial role in international trade and commerce, and the Indian government has implemented various tax provisions to support this sector. One of the significant tax…