banner_ad

Deemed plant & machinery

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 March 2014 Dear Members,

Are there any Provisions for Plant or Furniture which are similar to the Concept of "Deemed building" under Explanation-1 to Sec-32 under the IT Act? If not then how will the capital expenditure made by a person on Plant which is taken on rent by him be dealt with under the IT Act?

Regards,
Souvik Ghosh
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
17 March 2014 there is no such deeming fiction for plant and machinery/furniture...either you get the expense claim under section 30/31 provided the expenditure can be covered as current repair. if not the same can be claimed under section 37.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details