Unclaimed depreciation

Hi Vikram,

Depreciation can be claimed only if the company is in possession of the asset. Since the asset has been sold depreciation cannot be claimed subsequent to the year of sale.

thanks for your reply monica

but my quiry is how to clime previous years depreciation not current year's

uncaimed dep. can be adjust..dear because u sold property, now it cannot claim

Unclaimed depreciation cannot be claimed in subesquent year even if the asset has not been sold.