13 Sep 2019 Indexed Cost of Acquisition=(Cost of Acquisition/Cost of Inflation Index (CII) for the year in which the asset was first held by the assessee OR FY 13 Sep 2019 The cost of inflation index (CII) for the financial year 2019-20 has been The indexed cost of acquisition can then be used in the calculation of NOTIFIED COST INFLATION INDEX UNDER SECTION 48, EXPLANATION (V) 63/2019 (F.No. 370142/11/2019-TPL)], Dated 12-9-2019, following table should be used for the Cost Inflation Index :- Sl. No. Financial Year, Cost Inflation Index. 13 Sep 2019 The Capital Gains will be computed after deducting the indexed cost of acquisition from the sale value. The cost of purchase of the asset will be Indexed Cost of Acquisition = (Cost of Acquisition * Cost of the Inflation Index (CII) for the year in which the asset was sold or transferred.)/ The cost of Inflation 12 Sep 2019 So CII number helps to calculate the Inflation-adjusted Purchasing Price of Asset. This is what is known as the Indexed Cost of Acquisition). 19 Dec 2019 It's the value of the “Cost Inflation Index” (CII) from the financial year 2012 So, for calculating the indexed cost of acquisition, the fair market
what is the cost inflation index for FY 2019 20 AY 2020 21 I already googled but could not find think it has not yet been declared and if not why how should we calculate tax and invest in eligible fixed assets - Income Tax. Cost Inflation Index (CII) is a measure of inflation. And it is used when computing long-term capital gains on transfer (sale,exchange etc.) of capital assets. While computing Long term Capital Gain, Cost Inflation Index (CII) is used for computing Indexed cost of acquisition and Indexed Cost of improvement. Cost Inflation Index of year of Purchase Therefore for an asset which was acquired in the year 2005-06 for Rs. 100 and sold in the year 2019-20 for Rs 300, the Indexed Cost of Acquisition would be. It is taxed at 20% with indexation. To calculate LTCG from the property, the seller has to calculate the indexed cost of acquisition.
13 Sep 2019 Finance Ministry notifies cost inflation index for FY 2019-20 as 289 while calculating LTCG/LTCL tax payable on assets acquired on or before 16 Sep 2019 In respect of assets acquired prior to 1 Apr. 2001, the assessee now has the option to use FMV/ Indexed Cost of Acquisition for arriving at the
So this is the New Series of Cost Inflation Index (CII) From FY 2001-02 to FY 2019-20. You can use these CII figures to calculate the adjusted or indexed cost of acquisition which is required for the calculation of long-term capital gains (LTCG) or Long Term Capital Losses (LTCL). The formula for calculating the new Purchase price using Cost of Inflation Index is as below. Indexed Cost of Acquisition = (Cost of Acquisition * Cost of the Inflation Index (CII) for the year in which the asset was sold or transferred.)/ The cost of Inflation Index (CII) for the year in which the asset was first held by the assessee OR FY 2001-02, whichever is later.
So this is the New Series of Cost Inflation Index (CII) From FY 2001-02 to FY 2019-20. You can use these CII figures to calculate the adjusted or indexed cost of acquisition which is required for the calculation of long-term capital gains (LTCG) or Long Term Capital Losses (LTCL).