20 March 2013
I have given my House given on Rent so i can claim deduction under U/s 24 @30%
but as per the the below explanation will i get to claim full amount what i have spent on painting..
When we say 'repairs', we mean work to make good or remedy defects in, damage to or deterioration of the property. For example: replacing part of the guttering or windows damaged in a storm replacing part of a fence damaged by a falling tree branch repairing electrical appliances or machinery. When we say 'maintenance', we mean work to prevent deterioration or fix existing deterioration. For example: painting a rental property oiling, brushing or cleaning something that is otherwise in good working condition maintaining plumbing.
21 March 2013
Thank you sir, but then can you please tell me why it is said that repairs full amount spent can be claimed in the same year for rented house and if any capital expenditure can be taken as deduction in no. of years ,
CAclubindia
