The expansion of the tonnage tax scheme proposed in the new Income Tax Bill, 2025 will offer significant benefits to domestic shipping companies. The revised provisions extend the tax regime to Indian inland vessels under the Inland Vessels Act, 2021, which was previously limited to ships registered under the Merchant Shipping Act, 1958. Under the new framework, companies opting for the tonnage tax scheme will be considered separate businesses and enjoy a 10-year lock-in period, exempting them from corporate tax during this duration. Industry experts believe that this move will enhance cash flow and improve the viability of inland and coastal shipping operations.
CEA issues guidelines for benchmarking O&M norms for distribution utilities
The Central Electricity Authority (CEA) has issued the Guidelines for Benchmarking of Operation and Maintenance [O&M] Norms for Distribution Utilities. The guidelines have been developed to standardise O&M norms across the sector. The guidelines include […]
Advanced Air Mobility: Innovations to transform urban commute and regional connectivity
India’s aviation landscape is undergoing a significant transformation, driven by rapid urbanisation, surging domestic air traffic, and initiatives such as the Regional Connectivity Scheme – Ude Desh ka Aam Naagrik (RCS-UDAN). However, long-standing issues such […]
Greater Chennai Corporation sanctions funds for development of stormwater drainage in uncovered areas
The Greater Chennai Corporation (GCC) has sanctioned funds worth Rs 2 billion for the development of stormwater drainage (SWD) in uncovered areas of Chennai, Tamil Nadu. The work is likely to commence in February 2025. […]