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Report No. 12

30. Rent, repairs and insurance for buildings.-

In respect of rent, repairs and insurance for buildings, the following deductions shall be allowed-

(a) in respect of any premises used for the purposes of the business, profession or vocation,-

(i) where the premises are occupied by the assessee as a tenant-

(a) the rent paid for such premises; and

[Section 10(2)(i), without the proviso]

(b) if he has undertaken to bear the cost of repairs to the premises, the amount paid on account of such repairs;

[Section 10(2)(ii), without the proviso]

(ii) where the premises, being a building, are occupied by the assessee otherwise than as a tenant, the amount paid by him on account of current repairs to the premises;

[Section 10(2)(v), part, for buildings]

(b) any sums paid on account of land revenue, local rates or municipal taxes;

[Section 10(2)(ix), earlier part]

(c) the amount of any premium paid in respect of insurance against risk of damage or destruction of the premises, being a building

[Section 10(2)(iv), part, for buildings]

Income-Tax Act, 1922 Back

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