Hi guys this is my first blog so please support me by giving likes and reading my blog in this blog let us see the expenses how it is expressly allowed by the act section 30 to 37. Taxable business or professional income is known as income earned plus income occurred the following expenses in relation to building or allowed as deduction front paid for the premises current repres that term current requirements repairs of revenue nature capital expense which enhance the effectiveness or value of the preamines shall not be allowed as the direction Municipal taxes local race and land revenue insurance charges against the damage destruction of the section 31 expense relation to plant machinery and furniture current repair and insurance in case of plant missionary and furniture which will be allowed as a deduction any expenditure of capital nature including installation increasing capacity or increasing efficiency efficiency should not be allowed but added to the cost of the Asset which means reduction in the value of acid due to wear and Tear lesson and reflection of time under the income tax law the following condition or specified for climb of depreciation it should be a specified asset it should be owned by the SSC it should be used to for the purpose of business aur professions during the previous year the block of asset method should be followed specified asset for building plant and machinery furniture fixtures and intangible asset the term plant according to section 43 include ship vehicle book scientific Apparatus and surgical equipment plant does not include t bushes and livestock the term intangible asset include known how pat and Trademark copyright other business and commercial rice like good will licence we have to understand in The Lost block itself the ownership will be determined based on title deed the person whose name appears in the title deed will be regarded as the owner and depreciation can be climbed by such person in the case of leaf transaction only the lesser will climb the benefit of depreciation usage for clients of depreciation they said asset should have been used in the business or professions during the previous year asset exclusively used for domestic purpose will not qualify for depreciation. Hope this blog was seems useful to you all to get an knowledge on expenses expressively about by the Act Section 30 to 37 keep supporting my blog and share with your friends thanks for sending your time to reading my blog bye bye.