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[Cites 0, Cited by 0] [Section 232] [Entire Act]

Union of India - Subsection

Section 232(18) in The Income Tax Act, 2025

(18)Where the net tonnage of ships or inland vessel, as the case may be, chartered in exceeds the limit under sub-section (15) during any tax year, the total income of such company in relation to that tax year shall be computed as if the option for tonnage tax scheme does not have effect for that tax year.