§ 225
Chapter XIII — Determination Of Tax In Special Cases
Income from business of operating qualifying ships
Income-tax Act, 2025
Business owners operating qualifying ships can choose to compute their income under this Part. This income will be considered as profits and gains of business, chargeable to tax. The tonnage tax scheme provides an alternative method for calculating tax liability.
📜 Official text of the section +
225. 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 busi -
ness chargeable to tax under the head “Profits and gains of business or
profession”.
Tonnage tax scheme.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.