On 21-1-2025, the Ministry of Finance notified the Income-tax (First Amendment) Rules, 2025 to amend the Income-tax Rules, 1962. The provisions came into force on 21-1-2025.
Key Points:
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New chapter has been inserted relating to Special provisions for computing profits and gains of business of operation of cruise ships in case of non- residents.
Rule 6GB has been introduced which provides the conditions for non-residents who are engaged in the business of operation of cruise ships:
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Operate a passenger ship having a carrying capacity of more than 200 passengers;
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The ship is of the length of 75 meters or more;
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The ship is being used for leisure and recreational purposes;
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The ship has proper dining and cabin facilities for passengers
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Operate the ship on scheduled voyages or shore excursions which should touch at least 2 ports of India or same ports of India twice;
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The ship should not be used to carry cargo;
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The ship will have to follow the guidelines which will be issued by the Ministry of Tourism or Ministry of Shipping.
