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[Cites 0, Cited by 0] [Section 115VG] [Entire Act]

Union of India - Subsection

Section 115VG(2) in The Income Tax Act, 1961

(2)For the purposes of sub-section (1), the tonnage income of each qualifying ship shall be the daily tonnage income of each such ship multiplied by-
(a)the number of days in the previous year; or
(b)the number of days in part of the previous year in case the ship is operated by the company as a qualifying ship for only part of the previous year, as the case may be.