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

Union of India - Subsection

Section 115VH(1) in The Income Tax Act, 1961

(1)Where a qualifying ship is operated by two or more companies by way of joint interest in the ship or by way of an agreement for the use of the ship and their respective shares are definite and ascertainable, the tonnage income of each such company shall be an amount equal to a share of income proportionate to its share of that interest.