Insertion of new section 44BBC
Section 17 of the Finance Act, 2024 (No. 2) deals with insertion of new section 44BBC. Insertion of new section 44BBC. 17. After section 44BBB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2025, namely:— '44BBC. The Act was enacted on 16 Aug 2024.
Insertion of new section 44BBC.
17. After section 44BBB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2025, namely:—
'44BBC. Special provision for computing profits and gains of business of operation of cruise ships in case of non-residents - (1) Notwithstanding anything to the contrary contained in sections 28 to 43A, in the case of an assessee, being a non-resident, engaged in the business of operation of cruise ships subject to such conditions as may be prescribed, a sum equal to twenty per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession".
(2) The amounts referred to in sub-section (1) shall be the following, namely:—
Section 17, The Finance Act, 2024 (No. 2).
(a) the amount paid or payable to the assessee or to any person on his behalf on account of the carriage of passengers; and (b) the amount received or deemed to be received by or on behalf of the assessee on account of the carriage of passengers.'.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 17
What does Section 17 of the Finance Act, 2024 (No. 2) deal with?
Section 17 of the Finance Act, 2024 (No. 2) is headed "Insertion of new section 44BBC". Insertion of new section 44BBC. 17. After section 44BBB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2025, namely:— '44BBC.
How do I find court cases under Section 17 of the Finance Act, 2024 (No. 2)?
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, 2024 (No. 2) 17, section 17 Finance Act, 2024 (No. 2), section 17 of the Finance Act, 2024 (No. 2). 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 17 of the Finance Act, 2024 (No. 2), and has it changed?
Its own text turns on section 28 (Amendment of section 94B), Income-tax Act 44BBB (Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was Section 17 of the Finance Act, 2024 (No. 2) enacted?
Section 17 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 17, was enacted on 16 Aug 2024. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. -10716 words
- 2. Income-tax9063 words
- 49. Substitution of new Chapter for Chapter XIV-B4593 words
- Fourth Schedule. -1864 words
- 138. Insertion of section 74A1329 words
- 89. Definitions889 words
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.