alleryStart learning →Insurance of business premises against damage is deducted under which section?
ASection 32
BSection 30
CSection 37
DSection 31
Answer & Solution
Correct answer: B. Section 30
Section 30(c) allows the premium paid to insure the premises against damage or destruction.
Keep practising Profits and Gains of Business or Profession
Browse all Profits and Gains of Business or Profession questions for CA Inter, or explore more Taxation topics.
Related questions
Under 44AE, partner pay of a firm is deducted within limits of which section?A heavy goods vehicle of 10 tons gross weight, owned all year: 44AE income?Three non-heavy goods carriages owned all year: presumptive income under 44AE?Under 44AE, a heavy goods vehicle's monthly presumptive income is per ton at?The 44AE presumptive scheme covers owners of at most how many goods carriages?Basic receipts ceiling for presumptive tax on professionals under 44ADA?Presumptive income under 44ADA is what share of a professional's gross receipts?Basic turnover ceiling for an eligible business under 44AD?