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Rule 11S of Income Tax Rules 1962: Computation of average of net tonnage

Rule 11S : Computation of average of net tonnage for charter-in of tonnage
(Chapter: II, Part G. - Tonnage Tax Scheme For Shipping Companies)

The limit for charter-in of tonnage of the qualifying ships referred to in section 115VV (to be worked out according to the illustration explained in Note 6 appearing after the corresponding Form No. 66) during any previous year shall be computed by dividing the total number of chartered-in ton days by the total number of ton days operated by the company.

Extra Notes for Readers:

- Rule 11S was introduced by the Income Tax (8th Amendment) Rules, 2005, w.e.f. 1-4-2005

Check at Income Tax Dept. official site for latest version of the Rule.

This page was created/last updated on 17th October 2016.

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