Arjun Verma (133 Points)
22 October 2020
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3549 Points)
Replied 22 October 2020
If you installed a window air conditioner, for instance, you could deduct the cost under Rental Expenses. If you installed a central air conditioning system ,however, that is considered a Capital Improvement and would be depreciated for 27.5 years, the same as the rental property itself.
Prachi Bansal
(3129 Points)
Replied 23 February 2021
The rate of depreciation on air conditioner is 15% if used for production purposes and is classified under plant and machinery.
If the A.C. is used in office then it is classified as office equipments and thus depreciation rate is 10%.
Hope this helps!
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
