Section 33, The Income Tax Act, 2000

(1) Subject to Part V of the First Schedule, and notwithstanding any other provision of this Act, no deduction isallowed in respect of the cost of deriving rental income from real property except as allowed under subsection (2) of this section and subsection (1) of section 39. (2) A deduction is allowed for expenditure on insuring and managing the property during the period the property income is being derived and on expenditure incurred to repair, renew, alter or improve a property to the extent that it is— a) attributable to a period of occupation by a tenant; and b) allowed by subsection (2) of section 41. Meal, refreshment and entertainment expenses.