Business Studies, asked by ussaeed46761, 11 months ago

Explain repair replacement and renovation of an assets

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Answered by Anonymous
2

Replace, Renewal Or Renovation. The main tax consideration which one has to keep in mind is whether expenditure on repair, replacement or renewal is deductible as revenue expenditure u/s 30,31, or 37(1). ... Expenditure incurred towards an income is a revenue expenditure.

Answered by Anonymous
1

Explanation:

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