exemption for rented generator

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  1. Pkkul.adv.

    Pkkul.adv. New Member

    I gives generators on rent to various institutions and earn about 500000 p.a.From which i pay instalment & Intt. Of Rs.175000 for generator loan & for maintainence & Diesel Rs.110000. Whether.i would get deduction for the aforesaid instalment,intt.,& Expences
     
  2. rudrabose

    rudrabose Active Member

    If it is your business to give generators on Rent, you can claim deduction.

    You can claim deduction for the interest and for diesel expenses.

    You cannot claim deduction for repayment of principal amount of the loan.
     
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