Depreciation Rate for Air conditioner

Yes. 15% depreciation applicable...

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Would profit or loss arise on sale of air conditioner or any other depreciable asset used in the business?

Would that profit be treated as capital gain?

Depreciation rate will be 15% as per IT Act

The cost of acquiring fixed assets is written off using depreciation.

The cost of acquiring fixed assets is written off using depreciation. This process in tax and accounting is carried out in different ways. However, regardless of this, when non-circulating funds enter the organization, the need arises to establish its useful life, that is, such a time period during which the object will bring benefits, and based on this, assign the air conditioner to one of the depreciation groups.
But good care and timely repair in case of breakdown can slow down the wear of the air conditioner. This can extend its validity by an extra couple of months for sure. Always ask to [url=https://epicductcleaning.com.au/duct-cleaning-sunbury/] have your equipment repaired [/url]. Good luck!