IT Act 30अध्याय IV · Computation Of Total Income

धारा 30 · Rent, rates, taxes, repairs and insurance for buildings

अक्षर आकार — स्तर 1, कुल 4 में से
- In respect of rent, rates, taxes, repairs and insurance for premises, used for the purposes of the business or profession, the following deductions shall be allowed-

(a)

where the premises are occupied by the assessee-
(i)as a tenant, the rent paid for such premises; and further if he has undertaken to bear the cost of repairs to the premises, the amount paid on account of such repairs;
(ii)otherwise than as a tenant, the amount paid by him on account of current repairs to the premises;

(b)

any sums paid on account of land revenue, local rates or municipal taxes;

(c)

the amount of any premium paid in respect of insurance against risk of damage or destruction of the premises.
[Explanation. - For the removal of doubts, it is hereby declared that the amount paid on account of the cost of repairs referred to in sub-clause (i), and the amount paid on account of current repairs referred to in sub-clause (ii), of clause (a), shall not include any expenditure in the nature of capital expenditure.] [ Inserted by Act 32 of 2003, Section 14 (w.e.f. 1.4.2004).]

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