Finance Act, 2003 Section 15 - Bare Act |
| State | Central Government |
| Year | 2003 |
| Section Title | Amendment of Section 31 |
In section 31 of the Income-tax Act, after clause (ii), the following Explanation shall be inserted with effect from the 1st day of April, 2004, namely:--
"Explanation.--For the removal of doubts, it is hereby declared that the amount paid on account of current repairs shall not include any expenditure in the nature of capital expenditure.".