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SOUMYA I SHETTY

SOUMYA I SHETTY (Querist)
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17 June 2009 REPAIRS INCURRED BY HIRER WHETHER DEDUCTIBLE OR NOT

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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17 June 2009 deductible

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Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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17 June 2009 section 31. Repairs and insurance of machinery, plant and furniture
In respect of repairs and insurance of machinery, plant or furniture used for the purposes of the business or profession, the following deductions shall be allowed—
(i) the amount paid on account of current repairs thereto;
(ii) the amount of any premium paid in respect of insurance against risk of damage or destruction thereof.
1[Explanation.—For the removal of doubts, it is hereby declared that the amount paid on account of current repairs shall not include any expenditure in the nature of capital expenditure.]

so repairs is deductible provided
it is revenue in nature
and used for business & profession during the P.Y.

no other conditions are imposed

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