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INCOME TAX

CBDT notifies amendments in Income-tax Rules, 1962 to prescribe conditions for applicability of presumptive taxation regime..

by TaxConcept January 22, 2025January 22, 2025

CBDT notifies conditions for applicability of presumptive taxation regime for non-resident cruise ship operators under Finance (No. 2) Act, 2024.

Conditions prescribed-

Applies to ships with >200 passenger capacity or >75m length.
Scheduled voyages touching at least 2 Indian sea ports or same sea ports of India twice.
Passenger-focused operations and not cargo.
Compliance with guidelines issued by Ministry of Tourism/Shipping.

This aims at promoting investment & employment in the cruise sector!

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Tax Concept is a dedicated team of financial writers, legal analysts, and tax professionals committed to breaking down complex Indian corporate updates. From real-time GST amendments and crucial Income... More by TaxConcept

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