Section 31 → Section 32
Repairs and insurance of machinery, plant and furniture
Quick Answer
Section 31 of the Income Tax Act, 1961 (Repairs and insurance of machinery, plant and furniture) corresponds to Section 32 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 31
Provision Summary
Deduction for current repairs and insurance premiums paid for machinery, plant, or furniture used for business.
Sec 32
Provision Summary
Retained. Software maintenance (AMC) and cloud server insurance are explicitly covered.
Key Changes & Highlights
- Clarification added regarding hardware upgrades vs. routine maintenance.
Frequently Asked Questions
What does Section 31 of the Income Tax Act 1961 deal with?
Section 31 (Repairs and insurance of machinery, plant and furniture) Deduction for current repairs and insurance premiums paid for machinery, plant, or furniture used for business.
What is the new section number for Section 31 under the Direct Tax Code 2025?
Section 31 of the ITA 1961 maps to Section 32 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 31 under the new tax code?
Section 31 is marked as "Retained" with status "Active". Impact: Low - Standard operational deduction.
What are the key changes to Section 31 under DTC 2025?
Clarification added regarding hardware upgrades vs. routine maintenance.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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