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18 September 2021 The on-line newspaper devoted to the world of transports 01:10 GMT+2



March 4, 2002

Domestic shipping industry's horizon brightens

Although the shipping industry's demand for tonnage tax has not yet been conceded, the Union Budget proposals have brightened the horizon for shipping lines. For one thing, the definition of Section 33 AC under the Income-Tax Act, 1961, has been broadened. Secondly, the Budget has abolished the minimum alternate tax (MAT) for the shipping companies.

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