CBDT Amends Income Tax Rules for Presumptive Taxation of Non-Resident Cruise Ship Operators

The Central Board of Direct Taxes (CBDT) has amended Income Tax Rules to implement a presumptive taxation regime for non-resident cruise ship operators to boost investment and employment in India. 

Notified on 21 January, the rules require passenger ships to have a capacity of over 200 passengers or a length exceeding 75 meters, with appropriate dining and cabin facilities. 

These ships must operate on scheduled voyages or shore excursions touching at least two Indian ports, primarily for leisure and passenger transport. 

Additionally, income from lease rentals of such ships is exempt when received by foreign companies from related operators in India.