Section |
Nature of Deduction |
Who can Claim |
“Profits And Gains Of Business Or Profession” |
30 |
Rent, rates, taxes, repairs and insurance for buildings |
All assessees |
31 |
Repairs and insurance of machinery, plant and furniture |
All assessees |
32 |
Depreciation [subject to certain conditions] |
All assessees |
32AC |
Investment allowance |
Companies |
32AD |
Additional investment allowance for setting up industrial undertakings in Andhra Pradesh, Bihar, Telangana and West Bengal |
All assessees |
33AB |
Tea/Coffee/rubber development account |
All assessees carrying on the business of growing and manufacturing tea or coffee or rubber in India |
33ABA |
Site restoration fund |
All assessees engaged in the business of the prospecting for, or extraction or production of, petroleum or natural gas or both in India |
35 |
Expenditure on scientific research [subject to certain conditions] |
All assessees |
35ABA |
Expenditure for obtaining right to use spectrum for telecommunication services |
Any assessee |
35ABB |
Expenditure for obtaining licence to operate telecommunication services |
All assessees |
35AC |
Expenditure on eligible projects/schemes |
All assessees |
35AD |
Expenditure on specified business |
All assesses (only Indian companies in some cases) |
35CCA |
Expenditure by way of payment to associations and institutions for carrying out rural development programmes and contribution towards notified Rural Development Funds [subject to certain conditions] |
All assessees |
35CCC |
Weighted deduction for expenditure incurred on agricultural extension project |
All assesses |
35CCD |
Weighted deduction for expenditure for skill development |
Companies |
35D |
Amortisation of preliminary expenses [deductible in five equal instalments] |
Indian companies and resident non-corporate assessees |
35DD |
Amortisation of expenditure in case of amalgamation or demerger |
Indian company |
35DDA |
Amortisation of expenditure incurred under voluntary retirement scheme |
All assessees |
35E |
Expenditure on prospecting, etc., for certain minerals [deductible in ten equal instalments] |
Indian companies and resident non-
corporate assessees engaged in prospecting etc., of any minerals |
36(1)(i) |
Premium paid in respect of insurance against risk of damage or destruction of stocks/stores |
All assessees |
36(1)(ia) |
Premium paid for insurance on life of cattle owned by a member of a society engaged in supplying milk to the federal milk co-operative society |
Federal milk co-operative societies |
|
Medical insurance paid by employers |
All assessees |
36(1)(ii) |
Bonus or commission paid to employees |
All assessees |
36(1)(iii) |
Interest on borrowed capital |
All assesses |
36(1)(iiia) |
Discount on zero coupon bond |
Infrastructure capital companies/ infrastructure capital funds/public sector funds/public
sector banks |
36(1)(iv) |
Contributions to recognised provident fund and approved superannuation fund |
All assessees |
36(1)(v) |
Contributions to approved gratuity fund |
All assessees |
36(1)(va) |
Employees’ contributions to staff welfare schemes |
All assessees |
36(1)(vi) |
Write off allowance in respect of animals [subject to certain conditions] |
All assessees |
36(1)(vii) |
Bad debts |
All assessees |
36(1)(viia) |
Provisions for bad and doubtful debts in respect of advances made by rural branches of banks |
Scheduled banks and non-scheduled banks |
36(1)(viii) / (viiia) |
Amount transferred to special reserve |
Approved Financial Corporations and public companies of specified nature/scheduled banks/National Housing Bank |
36(1)(ix) |
Expenditure for promoting family planning amongst employees [deductible in 5 equal annual instalments in the case of capital expenditure] |
Companies |
36(1)(x) |
Contribution towards notified Exchange Risk Administration Fund |
Public financial institutions |
36(1)(xii) |
Expenditure incurred by statutory entities |
Statutory entities |
36(1)(xiii) |
Banking cash transaction tax |
Any assessee |
36(1)(xv) |
Securities transaction tax |
All assessees |
36(1)(xvi) |
Commodities transactions tax |
All assessees |
36(1)(xvii) |
Expenditure incurred for purchase of sugarcane |
Co-operative societies |
36(1)(xviii) |
Marked to market loss |
All assessees |
37(1) |
Any other expenditure [ not being personal or capital expenditure and expenditure mentioned in sections 30 to 36 ] laid out wholly and exclusively for business |
All assessees |
37(2B) |
Expenditure on advertisement |
All assessees |
