The income tax department has notified amendments in I-T rules to prescribe conditions for applicability of presumptive taxation regime for non-resident cruise ship operators. As a measure to promote investment and employment, the government had in the July Budget, provided a presumptive taxation regime for non-residents, engaged in the business of operation of cruise ships. Further, exemption has been provided for any income of a foreign company from lease rentals of cruise ships, received from a related company which operates such ship or ships in India. As per the amendment to I-T Rules, 1962, notified on January 21, the applicability of this presumptive taxation regime is subject to conditions, including that the non-resident, engaged in the business of operation of cruise ships operate a passenger ship having a carrying capacity of more than 200 passengers or length of 75 metres or more, for leisure and recreational purposes and having appropriate dining and cabin facilities fo