Can we claim Insurance expense/vehicle repair expense benefit made for vehicle used for profession.
ritesh bansal (accountant) (55 Points)
04 January 2017Can we claim Insurance expense/vehicle repair expense benefit made for vehicle used for profession.
saurabh kumar
(Tax Consultant)
(348 Points)
Replied 04 January 2017
Yes, you can claim insurance/repairing charges (provided it is not in the nature of capital exp.) of vehicle used for profession in proportion to the extent it has been used for profession u/s 31.
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