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Section58
The Finance Act, 2012

Amendment of section 115VG

In force As on 08 Oct 2026

Ministry Finance Cited by 1 provision

Section 58 of the Finance Act, 2012 deals with amendment of section 115VG. Amendment of section 115VG. 58. In section 115VG of the Income-tax Act, in sub-section (3), for the Table, the following Table shall be substituted with effect from the 1st day of April, 2013, namely:— "TABLE Qualifying ship having net tonnage | Amount of daily tonnage income (1) | (2) up to 1,000 |

Amendment of section 115VG.

58. In section 115VG of the Income-tax Act, in sub-section (3), for the Table, the following Table shall be substituted with effect from the 1st day of April, 2013, namely:—

"TABLE

Qualifying ship having net tonnage Amount of daily tonnage income
(1)(2)
up to 1,000Rs. 70 for each 100 tons
exceeding 1,000 but not more than 10,000Rs. 700 plus Rs. 53 for each 100 tons exceeding 1,000 tons
exceeding 10,000 but not more than 25,000Rs. 5,470 plus Rs. 42 for each 100 tons exceeding 10,000 tons
exceeding 25,000Rs. 11,770 plus Rs. 29 for each 100 tons exceeding 25,000 tons.".

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Section 58, The Finance Act, 2012.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Income-tax Act s. 115VG Computation of tonnage income

Referred to by 1

  1. s. First Schedule First Schedule

Questions about Section 58

What does Section 58 of the Finance Act deal with?

Section 58 of the Finance Act is headed "Amendment of section 115VG". Amendment of section 115VG. 58. In section 115VG of the Income-tax Act, in sub-section (3), for the Table, the following Table shall be substituted with effect from the 1st day of April, 2013, namely:— "TABLE Qualifying ship having net tonnage | Amount of daily tonnage income (1) | (2) up to 1,000 |

How do I find court cases under Section 58 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2012 58, section 58 Finance Act 2012, section 58 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 58 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 115VG (Computation of tonnage income), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2012. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.