Under section 31 of the income-tax Act deduction in respect of
A. Rent and repairs of plant & machinery (P&M) is allowed
B. Rent repairs and insurance of P&M is allowed
C. Repairs and insurance of P&M is allowed
D. Rent, repairs, Taxes of P&M is allowed.
Answer:C
Under section 31 of the income-tax Act deduction in respect of
A. Rent and repairs of plant & machinery (P&M) is allowed B. Rent repairs and insurance of P&M is allowed C. Repairs and insurance of P&M is allowed D. Rent, repairs, Taxes of P&M is allowed.