Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
07 May 2015Friends
As per Schedule II to CA 2013, Air Conditioner should be classified as Office Equipment or Plant & Machinery. If PM will it be in the useful life of 15 years category. But AC with 15 years -- is it a reasonable useful life coverage.
Under old regime, depreciation rate on AC classified under PM was 13.91%.
Regards,
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 09 May 2015
Friends
Any responses please.
Regards
CA Amit Joshi
(Chartered Accountant)
(288 Points)
Replied 30 May 2015
Siddharth Goel
(Chartered Accountant)
(3026 Points)
Replied 02 July 2018
Hi,
Air Conditioner is generally classified as Electrical Installations and Equipment which has a useful life of 10 years which is a fair estimate of the life of an AC in common parlance.
| Particlulars as per Companies Act 2013 | Life | SLM | WDV |
| (XIV) Electrical Installations and Equipment [NESD] | 10 | 9.50% | 25.89% |
shahyar husain
(1235 Points)
Replied 05 November 2020
What is now the depreciation value of Air Conditioners?
Prachi Bansal
(3124 Points)
Replied 05 January 2021
The depreciation value of Air Conditioners is 15%
Hope it helps!
Ayush
(Executive )
(6132 Points)
Replied 22 December 2023
When an air-conditioner is utilized for business purposes and falls within a block of assets, it is subject to a depreciation rate of 15%.
Depreciation Rates as per Income Tax Act for FY 2023-24 - https://www.caclubindia.com/articles/depreciation-rates-as-per-income-tax-act-for-fy-2023-24-49584.asp
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
