Current Repairs - ‘Nature & Treatment’ of expense

All About “Current Repairs”

Current Repairs – Though there’s no specific definition as per the Income Tax Act, 1961. We generally assumed it is for the repairs of ‘Building’ & ‘Plant & Machinery.’

Section 30?&?31?of Income Tax Act, 1961 provides for the treatment of Current/Revenue repairs of Building & Plant & Machinery. However, there’s always some confusion regarding ‘Nature & Treatment’ of expense, so beneath are some of the latest judgements for clarification as per the courts.



See:

Section 30 - Rent, rates, taxes, repairs and insurance for buildings

Section 31 - Repairs and insurance of machinery, plant and furniture

Income-tax Act, 1961

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