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Valuation of Flat

This query is : Resolved 
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(Querist)
06 January 2011 Mr. X has started a Business in his own flat. What is the value of the flat to be taken for recording it in the Balance Sheet of the business? (Flat 21 years old, previously rented out but now used as office)

Whether depreciation can be claimed on the same?
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Hitender Gaur

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Hitender Gaur (Expert)
08 January 2011 After introducing in business you can claim Depriciation on said falt. Book the value of flat according to cercle rate applicable for said location/area.
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