{"id":3272,"date":"2018-02-27T12:48:33","date_gmt":"2018-02-27T12:48:33","guid":{"rendered":"https:\/\/www.hostbooks.com\/in\/?p=3272"},"modified":"2018-02-27T12:48:33","modified_gmt":"2018-02-27T12:48:33","slug":"section-31-repairs-insurance-machinery-plant-furniture","status":"publish","type":"post","link":"https:\/\/www.hostbooks.com\/in\/hb\/income-tax-act-1961\/section-31-repairs-insurance-machinery-plant-furniture\/","title":{"rendered":"Section &#8211; 31 : Repairs and insurance of machinery, plant and furniture"},"content":{"rendered":"<p class=\"tx\"><b>31.<\/b>\u00a0In 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\u2014<\/p>\n<p class=\"indent1\">\u00a0(<i>i<\/i>) the amount paid on account of current repairs thereto;<\/p>\n<p class=\"indent1\">(<i>ii<\/i>) the amount of any premium paid in respect of insurance against risk of damage or destruction thereof.<\/p>\n<p class=\"tx\"><i>Explanation.\u2014<\/i>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>31.\u00a0In respect of repairs and insurance of machinery, plant or furniture used for the purposes<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[801,446],"tags":[],"yst_prominent_words":[257,943,403,942,939,949,812,952,577,941,947,482],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3272"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=3272"}],"version-history":[{"count":0,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3272\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=3272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=3272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=3272"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=3272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}