Depreciation

i have an immovable asset which i kept it as an investments now i want to depreciate that asset , can i depreciate it??

U hv to specifically say, wat immovable asset r u talking abut..

If it is a land, than i m afraid u can not do so. N for building, u can claim depn, bt aftr complyn certain process.. 

its building

ok, let me tel u d procedure. U r showing d building as n investment, now first of all, u have to find out d purchase date and d actual cost of d building. As per explaination 5 to Sec 43(1), u have to calculate notional depn on such asset from the date of acquisition. its easy, take the cost of the building n provide depn for every past years notionlly on it from the date from whn u hv acquired the building. This will bring down the WDV of d building on wich u r eligable to claim depn.

thanks abhirup