Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 31 – Income Tax Act, 1961

Income Tax Act, 1961

 

Section 31. REPAIRS AND INSURANCE OF MACHINERY, PLANT AND FURNITURE.

 

In respect of repairs and insurance of machinery, plant or furniture used for the purposes of the business or profession, the following deductions shall be allowed –

 

(i) The amount paid on account of current repairs thereto;

 

(ii) The amount of any premium paid in respect of insurance against risk of damage or destruction thereof.

 

 

Previous | Naxt

 

Income Tax Act, 1961 

 

Indian Laws – Bare Acts

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2024 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation