Mera Samvidhaan All of Income-tax Act, 1961

Chapter XII-G · Special Provisions Relating to Income of Shipping Companies

115VXDetermination of tonnage.

Section 115VX · Chapter XII-G · D.—Conditions for applicability of tonnage tax scheme · page 533 of the Act

(1) For the purposes of this Chapter,—

(a) the tonnage of a ship 49[or inland vessel, as the case may be,] shall be determined in accordance with the valid certificate indicating its tonnage;

(b) "valid certificate" means,—

(i) in case of ships registered in India—

(a) having a length of less than twenty-four metres, a certificate issued under the Merchant Shipping (Tonnage Measurement of Ship) Rules, 1987 made under the Merchant Shipping Act, 1958 (44 of 1958);

(b) having a length of twenty-four metres or more, an international tonnage certificate issued under the provisions of the Convention on Tonnage Measurement of Ships, 1969, as specified in the Merchant Shipping (Tonnage Measurement of Ship) Rules, 1987 made under the Merchant Shipping Act, 1958 (44 of 1958);

(ii) in case of ships registered outside India, a licence issued by the Director-General of Shipping under section 406 or section 407 of the Merchant Shipping Act, 1958 (44 of 1958) specifying the net tonnage on the basis of Tonnage Certificate issued by the Flag State Administration where the ship is registered or any other evidence acceptable to the Director-General of Shipping produced by the ship owner while seeking permission for chartering in the ship;

49[(iii) in case of inland vessel registered in India, a certificate issued under the Inland Vessels Act, 2021 (24 of 2021).]

49 Ins. by Act No. 7 of 2025, w.e.f. 1-4-2026.

Other provisions that mention Section 115VX

Section 115VX of The Income-tax Act, 1961 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.