Tonnage tax opted companies scrutiny of annual returns for the financial year 2004-2005 Details of in chartering as well as space / slot arrangements during the period 1/1/2005 to 31/3/2005

Tonnage Tax Circular 4 of 2005

No:1-TT(1)/Cell/2005                                                                                                             Dated: May 30, 2005

Subject : Tonnage tax opted companies ' scrutiny of annual returns for the financial year 2004-2005 ' Details of in chartering as well as space / slot arrangements during the period 1/1/2005 to 31/3/2005

As per Govt of India gazette notification which lays down the guidelines for providing on board training to trainee officers by shipping companies opting for tonnage tax scheme under chapter XII G under Income Tax Act,1961, the minimum training requirements are to be fulfilled in addition to owned fleet, in-chartered fleet as well as slot/space chartered fleet. The last date for submission of annual returns to the tonnage tax cell for the year 2004-2005 was 15/5/2005.

A) To assess the basic training commitment for owned / in chartered fleet, Tonnage Tax Cell Circular No 2 of 2005 dt 28/1/2005 has laid down form 1(i) to be submitted by the tonnage tax opting companies. The format is reproduced below.

Sr. Nos. Ship Name Owned / Chartered Official No. Type of Ship Net Tonnage No of days ship proposed to be operated in the year Total complements as per Safe Manning Document No of Trainee officer (H/10) Minimum Mandays Required G * I
A B C D E F G H I J

From the form 1(i) submitted by the tonnage tax companies, it has not been found possible to verify the details of voyage / time charter periods of the vessels shown in the return with reference to the permission issued by DGS for such arrangements. All the tonnage tax opting companies are, therefore requested to furnish the following information in respect of ships in chartered by them on voyage as well as time chartered basis during the period 1/1/2005 to 31/3/2005

  1. A copy of DGS permission letter issued for such arrangements (ship/voyage wise)
  2. Total period of time charter arrangements for time chartered vessels (ship/voyage wise date from to..)
  3. Period of voyage of voyage chartered vessels (ship/voyage wise date from to.)
  4. A copy of charter party (ship/voyage wise)
  5. A copy of voyage list for the quarter 1/1/2005 to 31/3/2005
  6. In case of chartering of any Indian flag vessel (for which DGS approval is not required) a copy of charter party with delivery / redelivery certificate

Where a tonnage tax company has not hired any ship on time charter or voyage charter during this period, they may state so.

B) To assess the basic training commitment for space/charter fleet deployed by tonnage tax companies, form 1(ii) has been prescribed vide Tonnage Tax Cell Circular No 2 of 2005 dt 28/1/2005 which is reproduced below

Sr.Nos. Slot/Space charters Net tonnage @1 Net tonnage factor @2 Qualifying Tonnage C/D No of Days ship proposed to be operated in the financial year Minimum Training Requirement (Man-Days) E*F
A B C D E F G

To enable tonnage tax cell to verify the details of Slot/Space charter arrangements concluded by tonnage tax companies valid for the period 1/1/2005 to 31/3/2005, kindly furnish the following information.

  1. Name of the ship
  2. A copy of DGS permission letter issued for such arrangements (ship/voyage wise) wherever applicable
  3. Details of space/slot arrangement concluded
  4. Details of voyages performed under slot/space arrangements (ship/voyage wise date From.to)
  5. Details of TEU carried/space hired ship/voyage wise with supporting documents
  6. In case of chartering of any Indian flag vessel (for which DGS approval is not required) a copy of charter party concluded with delivery / redelivery certificate
  7. A copy of voyage list for the quarter 1/1/2005 to 31/3/2005

Where a tonnage tax company has not hired any ship on slot / space arrangements during this period, they may state so.

C) A compliance certificate in the proforma attached may please be furnished to the tonnage tax cell regarding correctness of information furnish in respect of in chartering / space / slot arrangements.

D) The information/data called for in A and B above may please be furnished at the earliest to enable scrutiny of annual returns submitted by the tonnage tax companies for the year 2004-2005, to enable processing of compliance certificate to be issued by the Directorate General of Shipping under the provision of section 115 VU (2) of Income Tax Act,1961

Sd/-

(Naresh Salecha)

Sr. Dy.Director General of Shipping

 

TONNAGE TAX TRAINING COMMITMENT

Annual Return

Refer tonnage tax cell circular no.4 of 2005 dated 30/5/2005

Details of in-chartering as well as space/slot arrangements entered into by the company during the period 1/1/2005 to 31/3/2005

Name of Company: ____________________________________________

Address:                ____________________________________________

                              ____________________________________________

Telephone              ____________________________________________

Fax                         ____________________________________________

Email                       ____________________________________________

Contact Person       ____________________________________________

Financial Year          ____________________________________________

certify that the information/details furnished vide our letter No.________________dated _____________ regarding above arrangements is true and accurate. I also hold myself and my company responsible for any factual error and shall be subjected to suitable penal action

Authorised Signatory

Place: ____________

Date: ____________

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