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For the purposes of this Act,— Item number Spacer Provision text (1)   An individual...an Indian ship as defined in clause (18) of section 3 of the Merchant Shipping...

In section 32 of the principal Act, in sub-section (2), in clause (a), the words

30% of additional employee cost incurred in the course of such business in the tax...deduction referred to in sub-section (1) shall be allowed for three consecutive...

(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"....