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Calculation of Net Tonnage factor for Financial Year 2024-25 to be used by Tonnage Tax Companies having Space / Slot arrangement
Applicable to:
Tonnage Tax Companies having Space / Slot arrangement
Effective Date:
Immediately
Superseded Circulars:
None
Key Changes and Requirements
1. Net Tonnage Factor for FY 2024-25
The Net Tonnage Factor for the Financial Year 2024-25 has been calculated as 8883.
- Calculation: Aggregate Net Tonnage of qualifying ships divided by the total number of such ships at the end of the preceding financial year.
- Usage: To be used in conjunction with the Net Tonnage of slot/space charters calculated under the CBDT notification dated 29.03.05 to work out the minimum training requirement for such arrangements for the FY 2024-25.
CBDT Notification: Income Tax Department
Important Note
Companies are advised to calculate and maintain records of mandays as per the guidelines to avoid any discrepancies during inspections.
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