The tax rate applicable for a non-resident engaged in shipping business in India shall be:

The official key records '*'. This question is excluded from automatic grading because the source does not supply an unambiguous valid choice. Official source note: The question says ‘tax rate’ and tax rate is either slab rate (30%) or foreign company rate (40%). 7.5% is the rate at which income is deemed. Hence, deemed income is 7.5% of receipts; but, tax rate on such deemed income is 30% or 40%. Hence, none of the options are found to be correct.