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— official CBDT correspondence
Section 232 — Certain conditions for applicability of tonnage tax scheme: its source in the Income-tax Act, 1961
Section 232 (Certain conditions for applicability of tonnage tax scheme) of the Income-tax Act, 2025 consolidates Section 115VT, Section 115VU, Section 115VV, Section 115VW and Section 115VZA of the Income-tax Act, 1961 as per the official CBDT correspondence.
source provisions · income-tax act, 1961
- Section 115VT — Transfer of profits to Tonnage Tax Reserve Account
- Section 115VU — Minimum training requirement for tonnage tax company
- Section 115VV — Limit for charter in of tonnage
- Section 115VW — Maintenance and audit of accounts
- Section 115VZA — Effect of temporarily ceasing to operate qualifying ships
read both texts · §115VT (1961) vs §232 (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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