Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 232] [Entire Act]

Union of India - Subsection

Section 232(21) in The Income Tax Act, 2025

(21)An option for tonnage tax scheme by a tonnage tax company shall not have effect in relation to a tax year unless such company—
(a)maintains separate books of account in respect of the business of operating qualifying ships; and
(b)furnishes, before the specified date referred to in section 63, the report of an accountant, in the prescribed form, duly signed and verified by such accountant.