Section 44B and section 172 : Seven Differences Explained !

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shipping businessThe main provisions of assessment of shipping business income are section 44B and section 172 of the Income Tax Act. What is the difference between provision u/s 44B and section 172 as both refers to the taxation of shipping business income of non residents?

  1. Under section 172 , the word non resident is not used . The word used is Ship. So section 172 is applicable on every ship arriving on Indian port , whereas the section 44B applies to assessment of non resident owner or charterer of the ship having shipping business income .
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