Claim of depreciation.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 September 2012 Dear Sir,

I was proprietor of the Business 2 years back.The business got closed but we were having Motor Cycle as asset.After 2 years i started the new business.
1.Can i show that asset in new business and claim Depreciation?
2. If yes on What Value?
3.Is it an addition or opening to Block of Asset?

prateek aanchalia

prateek aanchalia (Expert)
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12 September 2012 if that motor cycle u bring in business as capital introduced in business than u r eligible to claim depreciation..
2. book value of assets
3. u inter in business along with capital assets i.e. that assets known as opening assets..