Maintenance and audit of accounts
An option for tonnage tax scheme by a tonnage tax company shall not have effect in relation to a previous year unless such company—
(i) maintains separate books of account in respect of the business of operating qualifying ships; and
(ii) furnishes, before the specified date referred to in section 44AB, the report of an accountant, in the prescribed form22 duly signed and verified by such accountant.
Explanation.—For the purposes of this section, “accountant” shall have the same meaning as in the Explanation below sub-section (2) of section 288.
Practice area's of B K Goyal & Co LLP
Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice
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