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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.
frequently asked
Is Section 231 of the Income-tax Act, 2025 a new provision?
No — it derives from Section 115VP, Section 115VQ, Section 115VR, Section 115VS of the Income-tax Act, 1961.
What does Section 231 of the Income-tax Act, 2025 deal with?
Section 231 — "Method of opting of tonnage tax scheme and validity", under CHAPTER XIII - Determination of tax in special cases of the Income-tax Act, 2025.
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same chapter · chapter xiii - determination of tax in special cases · income-tax act, 2025
- Section 227 — Computation of tonnage income
- Section 228 — Relevant shipping income and exclusion from book profit
- Section 229 — Depreciation and gains relating to tonnage tax assets
- Section 230 — Exclusion of deduction, loss, set off etc.
- Section 232 — Certain conditions for applicability of tonnage tax scheme
- Section 233 — Amalgamation and demerger
- Section 234 — Avoidance of tax and exclusion from tonnage tax scheme
- Section 235 — Interpretation
frequently looked up · income-tax act, 2025
§2 · §4 · §13 · §14 · §16 · §20 · §26 · §46 · §59 · §63 · §67 · §86 · §92 · §111 · §118 · §122 · §123 · §150 · §170 · §179 · §185 · §202 · §203 · §206 · §211 · §228 · §253 · §263 · §268 · §270 · §279 · §287 · §289 · §294 · §303 · §313 · §316 · §319 · §334 · §349 · §351 · §353 · §393 · §397 · §398 · §401 · §405 · §410 · §412 · §413 · §423 · §427 · §464 · §475 · §489 · §499 · §500 · §536