Is ITC allowed on air conditioner?
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Yes, ITC is allowed in the Air conditioner subject to the condition that it is not accounted as Land & Building and used in the course or furtherance of the business. Assessee should disclose it as Plant and Machinery. ITC is not allowed on immovable property as per section 17(5)(d).
Yes,
ITC is allowed in the Air conditioner subject to the condition that it is not accounted as Land & Building and used in the course or furtherance of the business. Assessee should disclose it as Plant and Machinery.
ITC is not allowed on immovable property as per section 17(5)(d).
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