For computing long-term capital gains, ‘indexed cost of acquistion’ and ‘indexed cost of imporvement’ are required to be deducted from the full value of consideration of the capital asset. Both these costs are thus required to be indexed with respect to the cost inflation index pertaining to the year of transfer.
Cost Inflation Index from 1981-82 to 2011-12
| FINANCIAL YEAR | COST INFLATION INDEX | FINANCIAL YEAR | COST INFLATION INDEX |
| 1981-82 | 100 | 1982-83 | 109 |
| 1983-84 | 116 | 1984-85 | 125 |
| 1985-86 | 133 | 1986-87 | 140 |
| 1987-88 | 150 | 1988-89 | 161 |
| 1989-90 | 172 | 1990-91 | 182 |
| 1991-92 | 199 | 1992-93 | 223 |
| 1993-94 | 244 | 1994-95 | 259 |
| 1995-96 | 281 | 1996-97 | 305 |
| 1997-98 | 331 | 1998-99 | 351 |
| 1999-2000 | 389 | 2000-01 | 406 |
| 2001-02 | 426 | 2002-03 | 447 |
| 2003-04 | 463 | 2004-05 | 480 |
| 2005-06 | 497 | 2006-07 | 519 |
| 2007-08 | 551 | 2008-09 | 582 |
| 2009-10 | 632 | 2010-11 | 711 |
| 2011-12 | 785 |
Indexed cost of acquisition calculation
Indexed cost of acquisition: Cost of acquisition x cost inflation index for the year of transfer/cost of inflation index for the year acquisition or 1981-82, whichever is later
Indexed cost of improvement: cost of improvement x cost inflation index for the year of transfer / cost inflation index fore the year of improvement.
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what is the cost inflation index value for f/y 2009-2010 for purchasing REC & NHAI BONDS. PL. LET ME KNOW
what is the cost inflation index value for f/y 2009-2010 for purchasing REC & NHAI BONDS. PL. LET ME KNOW’ where will I FIND the answeer to my question’ is there any other site?
This is cost inflation index for FY2009-10
29 2009-10 632
what happens for tax purpose to amount after 5 year redemption in capital bond of REC AND NHAI
DINESH
1. What was the CII in the year 1933?
2. Since the residential house was old & dilapidated, it was brought down & sold; woud it be termed sale of land or house for the purpose of capital gain exemption, if the intention is to construct a house within 3 years of sale?
3. Can such proceeds (as in 2. above) be utilised fully prior to filing IT return without opening CGA?
What happens to properties which have been purchased more than 30-40 years ago? How would we consider the cost inflation index while calculating capital gains for such properties?
I HAVE PURCHSED A FLAT IN A COPOERATIVE SOCIETY BY PAYING THE TOTAL AMOUNT IN INSTALLMENT FROM 1990 TO 2000 IN TOTAL OF RS 1007500AND AGAIN PAID ENHANCEMENT CHARGES IN 2006 FOR 130000 NOW I WANT TO SELL AND THE SELLING COST WILL BE AROUND 60 LAKS HOW MUCH IS THE CAPITAL GAIN ON THE BASIS OF CII 2009-10 AND HOW MUCH CAN BE REINVESTED IN PURCHSING NEW HOUSE AS I DONOT HAVE ANY HOUSE OTHER THAN ABOVE HOW MUCH TAX I HAVE TO SHELL OUT IF I USE SOME OF MONEY FOR MARRIAGE OF MY DAUGHTER AND EDUCATION OF MY SON
You have provided information on the Cost Inflation Index since 1981. What are the figures since 1960?
I purchased a flat in 1989 for a consideration of Rs.114000/. i am selling the same house for Rs.15 lacs in Jan 2010. With the indexation what will be my tax liability. i have constructed a house about ayear back costing around 30 lacs. I am 64 years old and presently has no income.
What will be the capital gains for selling very old property in a village (gram panchayat) – land owned from prior to 1960. Also, the houses that were constructed are dilapidated and are worth nothing to the buyer and will need to be torn down. Will it be treated as house sale or land sale?
thanks.
One received a gift from his aunt in the year 1962 a plot of land measuring 6 and 1/2 cottahs. Then he constructed a residential house more or less 2200 sq. ft. on that plot during the span of 20 years. Thereafter he sold his house for a consideration of Rs.20 lacs in the year 2009. He also purchased a plot of land in the year 2009 and constructing a house thereon. How the capital gains to be calculated and What will be the capital gains ?
Sir, I purchased a house on 01 May 2001 for 8,34,000/- and have sold it recently for 24.5L. Pl let me know the amount of gains for payment of tax. Pl also clarify the exact min amount that I need to pay from this to fund the purchase of my new house that will be handed over by Dec this yr,
Regards
I purchased a flat at 5.50 lacs in Dec 1995 and sold it at 15.20 lacs in March 2010. What will be capital gains tax and how it can be saved.
Dear Sir,
THis is with reference to sell of my commercial property
how to calculate capital gain with the help of cost inflation index?
If depriciation is claimed then it will not be possible to invest in gov bonds and save on property tax?
what are the other options to save on property tax on selling of commercial property?
if company is on Hindu undivided Family then will it be possible to deduct property tax on liablities?
Pls. help
awaiting your reply at the earliest.
Thanking you
Akshita
Registration Charges and Stamp duty will subtracted from saleing price at the time of calculation for cost inflation index for building ?
Can I sell two flats – and invest the capital gains in one flat – (Mumbai). regards.
I have long term capital gain of Rs. 450000/- against sale of house property in April 2010, I have purchase a residential plot in May 2010 cost Rs. 450000/- plus also paid 50000/- for electricity facilitation and 21000/- for society maintenance and 15000/- for life time society club membership, it it necessary to construct something on this plot as i already have invested in purchase of residential plot up to the amount of capital gain or i can resides on open plot/land or i can reside in simple hut or i have to construct a room up to what cost, presently i resides in house purchased in December 2007 which i will give on rent and i will reside of open plot, by this way can I save capital gain tax ?,
please send me cost inflation index for F.Y. 10-11
My agreement with the builder for purchase of flat in Jan.1989 for Rs. 152711.00
I took possession in June 1992
Completion certificate given by Municipal Corporation in May 1993
Now I desire to sell the property.
What will be the cost inflation Index for the property to calculate the Capital Gain ? How much will be the capital gain?
Hi,
Please send me cost inflation for the Year 2010-2011.
Regards
s.c.basu
I had purchased a plot of land through a Govt Scheme for a net cost of Rs 4,80,000.00. I had paid Rs 1,40,000 initially in Jan 99 and the balance was paid in 10 half yearly installments which had a principal component and an interest component. I sold the plot in Oct 2010. What would may capital gains be?
Dear Sir…
I Purchased a flat in Pune during 2007-08 for Rs 8 lakhs
and selling it for 16.5 lakhs in 2011-12…
Accordingly CII =785/551 =1.42
Deducting this indexing value my capital gain =5.14 lakhs….
My question is…
If I purchase a flat in Karnataka for Rs12 lakhs within 3-4 months
after selling Pune’s flat for 16.5 lakhs…..
Do i need to pay any LTCG tax….??
I hope I dont need to pay Because I am buying new property for Rs 12 lakhs.
Please answer
Regards,
Rajesh
I Purchased a flat in Pune during 2007-08 for Rs. 8 lakhs
and selling it for 16.5 lakhs in 2011-12…
My question is…
If I purchase a flat in Karnataka for Rs12 lakhs within 3-4 months
after selling Pune’s flat for 16.5 lakhs…..
Do i need to pay any LTCG tax….??
I Purchased a flat in Pune during 2007-08 for Rs. 8 lakhs
and selling it for 16.5 lakhs in 2011-12…and buying
another property for 12 lakhs within 3 months.
Do i need to pay LTCG tax?
Purchased a flat in Pune during 2007-08 for Rs. 8 lakhs
and selling it for 16.5 lakhs in 2011-12…if invested in new
property (12 lakhs) ….Do I need to pau LTCG tax?