30. Rent, rates, taxes, repairs and insurance for buildings .-In respect of rent, rates, taxes, repairs
and insurance for premises, used for the purposes of the business or profession, the following deductions
shall be al lowed -
(a)where the premises are occupied by the assessee - (i)as a tenant, the rent paid for such premises; and further if he has undertaken to bear the
cost of repairs to the premises, the amount paid on account of such repairs; (ii)otherwise than as a tenant, the amount paid by him on account of current repairs to the
premises; (b)any sums paid on account of land revenue, local rates or municipal taxes; (c)the amount of any premium paid in respect of insurance against risk of damage or destruction
of the premises.
2[Explanation .-For the removal of doubts, it is hereby declared that the amount paid on account of
the cost of repairs referred to in sub -clause ( i), and the amount paid on account of current repairs referred
to in sub -clause ( ii), of clause (a), shall not include any expenditure in the nature of capital expenditure.]