CA Final Download the best Free CA FINAL android app for cracking your exam! Download Now
They are the best ca final faculties in India. They have produced many toppers & rank holders. Their video classes are available only here -
CHECK VIDEO CLASSES HERE

Tonnage Taxation

Tonnage Taxation

tonnage taxation

Tonnage tax is a special scheme of taxation for shipping companies.  A shipping company can pay its tax as per this scheme instead of Section 28-43C subject to fulfillment of certain conditions.  It’s an optional scheme. Section 115 VA-115VZC  of Income Tax act governs the provisions of the scheme. As per scheme tax is levied on the basis of aggregate of tonnage income (its capacity) of ship.  Hence its called tonnage tax.

 Who is chargeable to Tonnage Tax?

Certain shipping companies may elect to have their profits charged to Tonnage Tax rather than Corporation Tax, subject to certain conditions.

 

Particulars required in the notification of election for Tonnage Tax

A qualifying company wishing to calculate profits under Tonnage Tax rules must make an election for Tonnage Tax under section 697D Taxes Consolidation Act 1997. The election is made by completing the Form Tonnage Tax 1 (PDF, 133KB) – Application Form for entry/election into the Tonnage Tax scheme under section 697D Taxes Consolidation Act 1997, and submitting it to the Revenue Commissioners.

Information to be provided on Form Tonnage Tax 1 includes:

  • The type of election to be made i.e. single company or group of companies election.
  • In the case of a group election the name and address of the representative company and the name of the company secretary (a qualifying group of companies may nominate one company to act as the representative company to deal with tonnage tax matters on behalf of the whole group).
  • The accounting period from which the election is to take effect (if this is not the period in which the election is made the reason must be stated).

Scroll Down and Download Tonnage Taxation Pdf 

Along With Downloading Tonnage Taxation Pdf Also Check Out Some Of The Best Recommended Books For Taxation 

 

 

 

 

Direct taxes law and Practice Dr.Vinod K Singhania/Dr Kapil singhania

 

 

 

 

 

Direct tax by Vinod gupta

 

 

 

 

 

Direct Tax Summary Module by vinod gupta

 

TAXATION OF ARTISTES AND SPORTSMEN IN INTERNATIONAL TAX LAW

Author: Michael lang, walter loukota, markus stefaner

Best Recommended Taxation Video Lectures

DT video classesCA Prasad Bhandari DT video classes
ARPIT GUPTA DT video classes
IDT video classesCA G Saimukundhan DT video classes
CA Rajesh Tayal IDT video classes
Arpit Gupta IDT video classes

 

 

 

Tax Laws and Practice video lecturesProf. Abhishek sharma video lectures
Raj k Agrawal
Arpit Gupta video lectures

Download Tonnage Taxation Pdf

Click here And Download Tonnage Taxation pdf

Get More Taxation related Books Scanners and Video Lectures at www.cakart.in

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visitwww.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.

 

 

 

Leave a comment

Your email address will not be published. Required fields are marked *