Audit Report under section 232(21) for tonnage tax scheme

Part A: Particulars ofthe company

1.

Name

(refer Note 1)

2.

Address

(refer Note 2)

3.

Permanent Account Number

4.

Email id

5.

Contact number

Country Code

Number

6.

Tax Year

Part B: Particulars of books of accounts

1.

Tax year from which option for tonnage tax is effective

2.

(a) Whether separate books of account are maintained in re- spect ofthe business of operating qualifying ships

Yes/No

(b) If yes, list of books of account maintained (including books of accounts maintained in a computer system)

(c) List of books of accounts examined

3.

Furnish all the addresses at which the books of account are kept

Address 1

Address 2

Address 3

4.

Limit for charter-in

Whether correctly computed keeping in view the limit of 49% under section 232(15)

Yes/No

5.

Relevant shipping income

a.

Profits from core activities referred to in section 228(1)(a)

b.

Whether profits from incidental activities exceed 0.25 per cent ofthe turnover from core activities

Yes/No

6.

Tonnage tax reserve account

a.

Book profit

b.

Minimum reserve created

c.

Reserve utilized in the manner laid down under section 232(6)

7.

Computation of tonnage income under section 227(1) to 227(6)

a.

Name of the qualifying ship

(refer Note 3)

b.

Net tonnage / deemed tonnage

c.

Owned / chartered

d.

Kind of charter

(select anyone)

o Time Charter,

o Voyage Charter,

o Bare Boat Charter

o Bare Boat Charter cum demise basis

e.

Daily tonnage income

f.

Number of days operated

g.

Tonnage income (e*f)

(Repeat details 7, if required)

8.

Details of transactions by the company with related parties

(refer Note 4)

9.

Depreciation

a.

Computation of depreciation in accordance with the provisions of section 229(1) to (7) in the case of qualifying assets and other assets, as the case may be, in the following form

(refer Note 5)

b.

Particulars of depreciation allowable as per the Income-tax Act, 2025 in respect of each qualifying asset or block of qualifying assets, as the case

may be, in the following form

i.

Description of asset/block of assets

ii.

Rate of depreciation

iii.

Actual cost or written down value, as the case may be

iv.

Additions/deductions during the year with dates, in the case ofany addition of an asset, date on which put to use including adjustments on account of

I.

Input Tax Credit allowed under the Central Goods and Services Tax Act, 2017 and the relevant rules in respect of assets acquired on or after 1.3.1994

II.

Change in rate of exchange of currency

III.

Subsidy or grant of reimbursement, by whatever name called

10.

Details of assets (other than ships), if any, not used exclusively for the ton- nage tax business

(refer Note 4)

11.

Details of losses relating to the business of operating qualifying ships, if any

(refer Note 4)

Annexure

With respect to

Particulars

A-1

Part B (Row No. 7(d))

Certificate of charter-in/out on Time Charter, Voyage Charter, Bare Boat Charter and Bare Boat Charter cum demise basis to be provided

A-2

Part B (Row No. 8)

A note on the transactions by the company with related parties

A-3

Part B (Row No. 10)

A note on the assets (other than ships), if any, not used exclusively for the tonnage tax business

A-4

Part B (Row No. 11)

A note on the losses relating to the business of operating qualifying ships