investment and depriciation

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ankit (Querist)
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06 November 2008 Hi,
1) suppose a firm has purchased a building and has let it out. the firm buisness is not of letting out.i.e. building is investments
building being a depriciable asset should it be depriciated.
2) In other case building initially purchased as fixed asset. but in course of time it has been let out.so should building be transfered to investments?what about depriciation.
e-mail me:-ankit.maisheri@gmail.com

ankit

ankit (Querist)
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06 November 2008 message me ankit.maisheri@gmail.com

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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06 November 2008 1) No.
2) The date when it caeses to be business asset, and let out depreciation is not charged.

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