Irrespective of anything contained in sections 26 to 54, in the case of a company, the income from the business of operating qualifying ships––
(a) may, at its option, be computed as per provisions of this Part; and
(b) such income shall be deemed to be the profits and gains of such business chargeable to tax under the head “Profits and gains of business or profession”

Advocate Shruti Goyal
Advocate
Advocate Shruti Goyal is a legal expert specializing in corporate law and compliance. She writes to simplify legal topics for businesses and individuals alike.