Is Merchant Navy salary tax free?

Is Merchant Navy salary tax free?

The salary received by a resident seafarer will be taxable as per the laws of the Income-tax department. No special exemption is available. The salary of a non-resident seafarer will NOT be included in the total taxable income of the seafarer.

How much money do you make as a Merchant Marine?

The median salary for water transportation workers, including marine mariners, is $55,590, as of May 2017. The highest 10 percent of water transportation workers earns nearly $120,000, while the lowest 10 percent earns around $27,000. A rookie merchant marine, such as sailor, earns a median annual salary of $40,730.

Is Merchant Marine a military branch?

6. It is civilian-manned ships. Merchant Mariners are not part of the military. Now, some of them run a number of ships that support the U.S. Navy, like the Henry J.

Is Merchant Navy a government job?

Merchant Navy is both a private and a public sector job. There are many private companies which are a part of the Merchant Navy. If you are working with Shipping Corporation of India (SCI), you come under the government sector.

What is the minimum salary in merchant navy?

Merchant Navy Career Options and Job Prospects

Profile Qualification Average Salary (approx.)
Chief Officer 1st Mate (FG) Certificate of Competency Rs. 4,00,000 to 6,00,000 per month
Captain Master (FG) Certificate of Competency Rs. 8,65,000 to per month

What is the salary of 2nd officer in Merchant Navy?

Average Merchant Navy Second Officer salary in India is ₹ 3.4 Lakhs for employees with experience between 4 years to 10 years. Second Officer salary at Merchant Navy ranges between ₹ 1.5 Lakhs to ₹ 5 Lakhs.

Which company is best for merchant navy?

LIST OF TOP 10 MERCHANT NAVY COMPANIES IN INDIA:

  • THE SHIPPING CORPORATION OF INDIA LTD: THE SHIPPING CORPORATION OF INDIA LIMITED is India’s no.
  • ESSAR SHIPPING LTD:
  • THE GREAT EASTERN SHIPPING COMPANIES:
  • BHARATI SHIPYARD:
  • ABG SHIPYARD:
  • MERCATOR LTD:
  • GUJARAT PIPAVAV:
  • VARUN SHIPPING:

Is Merchant Navy a good career choice?

Merchant navy is a lucrative career option and for the person who follows all the necessary steps needed to be primarily taken, it is one of the best career options of today’s times.

What is the highest salary in merchant navy?

The highest salary in the Merchant Navy is for the post of Captain which is around Rs. 8,65,000 to per month.

What is the starting salary in merchant navy?

Pay Scale/Salary of Chief Officer (Merchant Navy)

Job Profile Starting Salary per annum (in INR) Mid Level Salary per annum (in INR)
Captain/Chief Mate 5,00,000-6,00,000 6,00,000

How much do entry level Merchant Marines make?

As of Mar 27, 2021, the average annual pay for an Entry Level Merchant Marine in New York City is $52,213 an year. Just in case you need a simple salary calculator, that works out to be approximately $25.10 an hour. This is the equivalent of $1,004/week or $4,351/month.

What is the retirement age in merchant navy?

60

Is Merchant Navy better than IIT?

ANSWER (1) Merchant Navy at officer level has better starting salaries in comparison to engineering from top IITs. But in long run IITian will have better salary and career prospects. Merchant Navy at officer level has better starting salaries in comparison to engineering from top IITs.

What is the retirement age for the Navy?

62

What is the fees for merchant navy?

Merchant navy Course After 12th: Overview
Course Name Merchant navy course
The course duration of the Merchant navy course after 12th 4.5 years
Course mode Regular mode
Average Merchant navy course fees Rs 2.5 to 5 Lakhs

Is Merchant Navy dangerous job?

However, along with the benefits of merchant navy, there are risks as well. The grass is not all green. We witness situations involving operational failures leading to business loss and personal injuries which might scar us for a lifetime and leave us unfit to be at sea again.

What are the disadvantages of merchant navy?

Long Vacations- In Merchant Navy you have to do work for 4 moths to 9 months continuously without any break on ship. So in the compensation of this long work time you will get equally long vacations of 2-4 months depends on you that when you want to rejoin the ship.

How do I join merchant navy?

Eligibility Criteria

  1. The eligibility for joining merchant navy is finishing class 12 with Physics, Chemistry and Mathematics.
  2. Candidates have to be unmarried Indian citizens (male or female).
  3. Normal vision is required but glasses up to plus or minus 2.5 may be allowed.

How long is the Merchant Marine Academy?

four-year

Which is the best job in merchant navy?

Merchant Navy Courses –

  • B.E. Marine Engineering.
  • B.Sc. Nautical Science.
  • B.E. Naval Architecture and Offshore Engineering.
  • B.E. Mechanical Engineering.
  • B.E. Petroleum Engineering.
  • B.E. Harbour & Ocean Engineering.
  • B.E. Civil Engineering.
  • B.E. Electrical & Electronics Engineering.