Income-tax Act, 1961 · Chapter XII: G · B.—Computation of tonnage income from business of
Section 115VF: Tonnage income
The Income-tax Act, 1961 was repealed by the Income-tax Act, 2025 from 1 April 2026. The text is kept here because the judgments below apply it.
Subject to the other provisions of this Chapter, the tonnage income shall be computed in accordance with section 115VG and the income so computed shall be deemed to be the profits chargeable under the head —Profits and gains of business or profession‖ and the relevant shipping income referred to in sub-section (1) of section 115V-I shall not be chargeable to tax.
Source: India Code (Legislative Department), the text of the Act as it stood before its repeal. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 115VF
No Supreme Court judgment in our database cites this section yet.