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Calculation of Net Tonnage factor for Financial Year 2015-16 (AY 2016-17) to be used by Tonnage Tax companies having Space / Slot arrangements.
Applicable to:
Tonnage Tax Companies having Space / Slot arrangements
Effective Date:
Financial Year 2015-16 (AY 2016-17)
Superseded Circulars:
None mentioned
Key Changes and Requirements
1. Net Tonnage Factor Calculation
The Net Tonnage Factor for Financial Year 2015-16 (AY 2016-17) has been calculated as 8679.
- 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 2015-16.
Note: The Net Tonnage Factor is to be used in conjunction with the Net Tonnage of slot/space charters to calculate the minimum training requirement.
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