(1)For the purposes of this Chapter, the relevant shipping income of a tonnage tax company means-(i)its profits from core activities referred to in sub-section (2);(ii)its profits from incidental activities referred to in sub-section (5):Provided that where the aggregate of all such incomes specified in clause (ii) exceeds one-fourth per cent. of the turnover from core activities referred to in sub-section (2), such excess shall not form part of the relevant shipping income for the purposes of this Chapter and shall be taxable under the other provisions of this Act.
