January 22, 2025 1:34 PM

Centre notifies new income-tax rules for non-resident cruise ship operators

The Central Board of Direct Taxes (CBDT) has notified amendments to the Income-Tax Rules, outlining the conditions for the applicability of the presumptive taxation regime for non-resident cruise ship operators, according to an official statement issued on Wednesday. As a measure to promote investment and employment, the Finance Act, 2024, introduced a presumptive taxation regime for non-residents engaged in the business of operating cruise ships. Additionally, an exemption has been provided f...