Income from business of operating qualifying ships
[As per the Income Tax Act, 2025 (this Act) w.e.f. 1st April, 2026.]
Irrespective of anything contained in sections 26 to 54, 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”.
