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Deduction under income tax u/s 36,31 ans 36(1)(i)and 36(1)(i

This query is : Resolved 
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(Querist)
17 August 2013 Dear Sir
I am working in private company.Our company take Fire and Burglary policy for our company stocks and Bulding . This expenses allowed as a deduction under income tax am i right???
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
17 August 2013 Yes the premium paid in respect of insurance is an allowable expense under the Income Tax Act.
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BASKARAN

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BASKARAN (Querist)
18 August 2013 Dear Sir

Thank you for your kind reply
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
19 August 2013 You are welcome. You should use the thanks button to convey your thanks.
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