New Income Tax Rules for Non-Residents Operating Cruise Ships in India
The Central Board of Direct Taxes (CBDT) has issued a new notification on January 21, 2025, introducing special provisions for non-resident businesses engaged in operating cruise ships under Section 44BBC of the Income-tax Act, 1961. These changes, known as the Income-tax (First Amendment) Rules, 2025, aim to regulate and define the conditions for computing profits and gains for such operations.Key Highlights of the NotificationApplicability:The rules apply to non-residents operating cruise ships for leisure and recreational purposes in India.Conditions to Qualify for Section 44BBC:To benefit under this section, the following conditions…