Deduction under income tax u/s 36,31 ans 36(1)(i)and 36(1)(i
This query is : Resolved
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???
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???
17 August 2013
Yes the premium paid in respect of insurance is an allowable expense under the Income Tax Act.
19 August 2013
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