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Section 231 — Method of opting of tonnage tax scheme and validity: its source in the Income-tax Act, 1961
Section 231 (Method of opting of tonnage tax scheme and validity) of the Income-tax Act, 2025 consolidates Section 115VP, Section 115VQ, Section 115VR and Section 115VS of the Income-tax Act, 1961 as per the official CBDT correspondence.
source provisions · income-tax act, 1961
- Section 115VP — Method and time of opting for tonnage tax scheme
- Section 115VQ — Period for which tonnage tax option to remain in force
- Section 115VR — Renewal of tonnage tax scheme
- Section 115VS — Prohibition to opt for tonnage tax scheme in certain cases
read both texts · §115VP (1961) vs §231 (2025)
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Source: the CBDT’s official 1961↔2025 correspondence table (incometaxindia.gov.in), captured 2026-07-21. This is a research aid — verify against the official CBDT utility ↗ before professional reliance.
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