Calculation in case of a joint operation

The tonnage revenue of each of these companies shall be an agreed amount to a share of income commensurate to its share of that interest where a qualifying ship is operated by more than one company through a joint interest in the ship or through an agreement for the use of the ship and their corresponding shares are definite and ascertainable. When two or more firms operate a qualified ship, subject to the rules of the aforementioned sub-section, the tonnage revenue of each company should be estimated as if each had been the sole operator.

A joint operator acknowledges its assets, including its equity of any assets held jointly, liabilities, including its equity of any liabilities incurred jointly, income from the sale of its equity of the mutual operation's output, revenue from the sale of the joint operation's output, and expenses, such as its share of any expenses incurred jointly, in relation to its intrigue in the joint operation.

A wonderful excerpt on donation under 80g.

A joint operator keeps track of the assets, obligations, income, and costs associated with its participation in a joint operation. The rules on business combinations accounting in the aforementioned subsection must all be used by the person who purchases a stake in a joint operation that qualifies as a business, with the exception of any principles that clash with a section's instructions.

These criteria pertain to both the first purchase of an interest in a joint operation as well as the purchase of a subsequent interest in a joint mission (previously held stakes are not remeasured in the latter scenario). The above criteria were added by Accounting for Acquisitions of Interests in Joint Operations, which applies prospectively to procurements of interests in joint operations emerging from the start of the first period in which the amendments are applied to annual periods beginning on or after 1 January 2016.

If a party participating in a joint operation has entitlements to the assets and obligations for the liabilities related to the joint operation but does not have joint control over the joint operation, then that party must account for its interest in the organisation in accordance with the above. More information can be gathered at the url 80g limit.