For an expense to be allowed under section 30 of the Income-tax Act, 1961
A. It should be rent, rates, taxes, repairs and insurance for building
B. Rent and repairs are allowed to a tenant if tenant bears the cost of repairs
C. Rates & taxes would be allowed, only if paid
D. All of the above
Answer:D
For an expense to be allowed under section 30 of the Income-tax Act, 1961
A. It should be rent, rates, taxes, repairs and insurance for building B. Rent and repairs are allowed to a tenant if tenant bears the cost of repairs C. Rates & taxes would be allowed, only if paid D. All of the above