2025Section 225

225. Income from business of operating qualifying ships.

In the 1961 Act1 match · Unreviewed

1961 Section 115VAReworded · Unreviewed · Compare

From the Income Tax Department's correspondence.

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—

(a) may, at its option, be computed as per provisions of this Part; and

(b) 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".

Income-tax Act, 2025: text as on 25 August 2026 · Official source ↗ ·