Latest Cost Inflation Index FY 2019-20 | CII Chart FY 2019-20. Here is the table of Cost Inflation Index numbers, as stipulated by the Income Tax Department. You can take values from the table to compute the indexed or inflation-adjusted cost of acquisition. For the purpose of computing long term capital gains, the property seller has to calculate the indexed cost of purchasing the property. To assess the indexed cost, the seller needs to multiply the property's cost of acquisition with the cost inflation index, as notified by the tax authorities for the year of transfer. This figure then has to be Cost Inflation Index (CII) for FY 2018-19/ AY 2019-20 Notified by CBDT at 280 (Base Year 2001-02) In the case of transfer of short term capital asset, the amount of capital gains can be arrived at by deducting the cost of acquisition/ improvement from the sale consideration. This indexed cost is then used to calculate your long term capital gains and the resultant tax on same. In this post, I will share the complete cost inflation index chart that's updated till AY 2018-19 plus a Capital Gains Tax calculator for you to easily compute your tax liabilities Indexed cost allows assessee to claim higher deduction in respect of cost of the asset by taking inflated cost while calculating capital gains. The overall cost of acquisition is adjusted per the prevailing Cost Inflation Index for the year and the year in which acquisition took place. 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. So, indexed cost of acquisition would be 55,10,563 [25,00,000 * (939/426)]. In the same way, adjust additional construction cost against inflation. CII for the year in which the new floor was
30 Dec 2019 This is because new revised CII for indexation started getting published taking FY 2001-02 as base with value of 100. 2. Cost on improvements A. Details of Purchase of the property. A1, Financial Year of Purchase / Acquisition of the Immovable Property. 2001-02
Cost Inflation Index for AY 2020-21, Cost Inflation Index for FY 2019-20 for Long Term. Capital gain is the profit you make on selling an asset. It can be stock, real estate, mutual funds, jewellery etc. If you are selling an asset after one year from the date of its purchase, the profit becomes a short term capital gain. Cost Inflation Index (CII) for PY 2019-20/ AY 2020-21 Notified by CBDT at 289 (Base Year 2001-02) In the case of transfer of short term capital asset, the amount of capital gains can be arrived at by deducting the cost of acquisition/ improvement from the sale consideration. Cost of Inflation Index FY 2019-20 AY 2020-21 for Capital Gain Below is the complete list of Cost of Inflation Index FY 2019-20 AY 2020-21 from new base year FY 2001-02 to FY 2019-20. This notification will come into force with effect from 1st day of April 2019 and will accordingly apply to the Assessment Year 2019-20 and subsequent years. Indexed Cost of Acquisition = Actual Purchase Price * (Index in year of Sale / Index in Year of Purchase) If the property is purchased before 2001, then you need to get the Fair market value of the property in 2001 and the use that for Indexed cost.
Here is the cost inflation index chart for FY 2019-2020 and AY 2020-21 Cost Inflation Index for Long-Term Capital Gains 2019-20 Knowledge of Cost Inflation Index is necessary for computing Long-Term Capital Gains. The Cost Inflation Index (CII) for the Financial Year (FY 2019-20) and Accounting Year (AY 2020-21) is 289. For the previous FY 2018-19, CII was 280. The CII is used to notify the rate of inflation for indexation purpose in India every financial year. Cost Inflation Index for AY 2020-21, Cost Inflation Index for FY 2019-20 for Long Term. Capital gain is the profit you make on selling an asset. It can be stock, real estate, mutual funds, jewellery etc. If you are selling an asset after one year from the date of its purchase, the profit becomes a short term capital gain. Cost Inflation Index (CII) for PY 2019-20/ AY 2020-21 Notified by CBDT at 289 (Base Year 2001-02) In the case of transfer of short term capital asset, the amount of capital gains can be arrived at by deducting the cost of acquisition/ improvement from the sale consideration. Cost of Inflation Index FY 2019-20 AY 2020-21 for Capital Gain Below is the complete list of Cost of Inflation Index FY 2019-20 AY 2020-21 from new base year FY 2001-02 to FY 2019-20. This notification will come into force with effect from 1st day of April 2019 and will accordingly apply to the Assessment Year 2019-20 and subsequent years. Indexed Cost of Acquisition = Actual Purchase Price * (Index in year of Sale / Index in Year of Purchase) If the property is purchased before 2001, then you need to get the Fair market value of the property in 2001 and the use that for Indexed cost. Cost Inflation Index (CII) for FY 2018-19/ AY 2019-20 Notified by CBDT at 280 (Base Year 2001-02) In the case of transfer of short term capital asset, the amount of capital gains can be arrived at by deducting the cost of acquisition/ improvement from the sale consideration.
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 When selling an asset, the purchase price is referred to as the indexed cost of acquisition. The cost inflation index (CII), therefore, is the indexed price that the asset 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). 4 Feb 2020 CII or Cost Inflation Index refers to the numbers issued by the Income Tax Department in CII is issued for every financial year in the Budget. Cost of Acquisition is the inflated purchase price and cost of the improvement is 27 Jul 2019 1 lakhs will be taxed at the rate of 10% (without indexation). How will cost of acquisition for assets acquired on or before 31/03/2018 be If in case the asset was acquired before the financial year 2001-02, the Index value for the year 2001-02 is to be used in the place of that year's index (as