indexation

Cost Inflation Index – Meaning & Index from 1981-82 to 2017-18

Income Tax - Article discusses Meaning of Cost Inflation Index (CII) which is used for Computation of Long Term Capital Gain. Cost Inflation index are Notified by CBDT every year and till date CBDT has notified Cost Inflation Index for the Financial Year 1981-82 to Financial year 2016-17. Cost Inflation index are used for computing indexed cost of ac...

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Cost Inflation Index table : Base year 1-4-2001, Finance Bill 2017

Income Tax - Govt. has come out with index table called Cost Inflation Index whose base year was fixed as 1-4-1981. In Finance Bill 2017 the Govt. has taken a very bold step and has shifted the base year from 1981 to 2001 for the benefit of investors....

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Shifting base year from 1981 to 2001 for capital gain computation

Income Tax - In order to revise the base year for computation of capital gains, it is proposed to amend section 55 of the Act so as to provide that the cost of acquisition of an asset acquired before 01.04.2001 shall be allowed to be taken as fair market value as on 1st April, 2001 and the cost of improvement shall include only those capital expenses ...

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Immovable property held for 2 Years to be considered Long Term capital asset

Income Tax - It is proposed to amend section 2 (42A) of the Act so as to reduce the period of holding from the existing 36 months to 24 months in case of immovable property, being land or building or both, to qualify as long term capital asset....

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Budget 2014 – Cost Inflation Index to be worked out on the basis of Index notified by Govt in this behalf

Income Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Cost Inflation Index The existing provisions contained in section 48 prescribe the mode of computation of income chargeable under the head “Capital gains”. Clause (v) of the Explanation to the said section defines the term “Cost Inflation Index...

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Cost Inflation Indexed Cost Calculator

Income Tax - Calculate Long term capital gain on sale of capital Assets other then shares with the help of Indexation.- We have given below the Cost Inflation (CII) Index calculator which automatically calculates Indexed cost of your asset. In the calculator You just have to fill the Year of Sale, Year of Purchase , Cost of Purchase/Acquisition/Improv...

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Foreign Foreign companies or individuals, including FII can enjoy lower capital gain tax

Income Tax - According to a recent decision of the Mumbai bench of the Income Tax Apellate Tribunal, non-resident companies and individuals are entitled to a beneficial rate of tax of 10% on long-term capital gains arising from the sale of shares of listed entities. Earlier, non-resident assessees were taxed at the rate of 20%....

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Foreign companies can also claim benefit of lower Rate of Tax on Capital Gain from securities transaction

Income Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Foreign companies cannot be discriminated vis-a-vis Indian firms so far as capital gains tax on securities transaction is concerned, according to an order by the Authority for Advance Rulings (AAR). Giving its ruling in a case related to UK-based Fujit...

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Sensex given vote of Support to Congress, Hit two upper circuits in one day

Income Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Markets have stopped trading for the day as the benchmarks hit another upper circuit Monday as soon as the trade resumed after 2 hour break. Investors are euphoric after the United Progressive Alliance emerged victorious in the 2009 general elections...

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Merger of RIL & RPL will be tax neutral for RPL Shareholders

Income Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II The merger of Reliance Pertroleum (RPL) with Reliance Industries (RIL) is the latest in a long string of amalgamations and mergers that have taken place over time in the Reliance group. As per the arrangement announced by RIL, RPL shareholders of RPL [...

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Indexed cost of gifted assets has to be determined with reference to previous owner – Bombay HC

The Commissioner of Income Vs. Manjula J. Shah (Bombay High Court) - The indexed cost of acquisition has to be determined with reference to the cost inflation index for the first year in which the capital asset was 'held by the assessee'. Since the expression 'held by the assessee' is not defined under Section 48 of the Act, that expression has to be understood as de...

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In case of gifted Assets, indexation benefit is available from the year of acquisition of the previous owner

DCIT Vs. Manjula Shah (ITAT Mumbai Special Bench) - This article summarizes a recent ruling of the Special Bench (SB) of the Mumbai Income Tax Appellate Tribunal (ITAT) [ITA No. 7315/Mum/2007] in the case of DCIT vs. Manjula Shah (Taxpayer) which held that, in the case of gifted capital asset, indexation benefit is available to a donee from the year ...

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Indexed cost of gifted assets has to be determined with reference to previous owner

DCIT (Mumbai) Vs. Manjula J. Shah [ITAT Mumbai (Special Bench- B-1)] - The assessee transferred a capital asset which was received by her by way of gift on 1.2.2003. The previous owner had acquired the capital asset on 29.1.1993. In computing capital gains, the assessee claimed that the indexed cost of acquisition had to be worked out by taking the date of acquisition ...

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CBDT notifies Cost Inflation indexes with Base Year as 2001-02

Notification No. 44/2017-Income Tax - (05/06/2017) - CBDT has vice Notification No. 44/2017 notified Cost Inflation indexes with Base Year as 2001-02 for the Financial Year 2001-02 to 2017-18 and same are applicable from Financial Year 2017-18....

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CBDT notifies Cost Inflation Index for Financial Year 2016-17

Notification No. 42/2016-Income Tax - (02/06/2016) - CBDT has notified Cost Inflation Index for Financial Year 2016-17 / Assessment Year 2017-18 at 1125 . Cost Inflation Index for Financial Year 2015-16 was 1081 so there is an increase of 44 in Cost Inflation Index . ...

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CBDT notifies Cost Inflation Index for Financial Year 2015-16

Notification No. 60/2015 - Income Tax - (24/07/2015) - Notification No. 60/2015 - Income Tax S.O. (E) – In exercise of the powers conferred by clause(v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India in the...

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Cost Inflation Index for Financial Year 2013-14

Notification No. 40/2013 - Income Tax - (06/06/2013) - Notification No. 40/2013 - Income Tax S.O. 1464(E) - In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Minist...

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Cost Inflation Index for FY 2008-09 / AY 2009-2010

Notification No. 86/2008-Income Tax - (13/08/2008) - Central Government, having regard to seventy-five per cent of the average rise in the Consumer Price Index for the Financial Year commencing from the 1st day of April, 2007 and ending on the 31st day of March, 2008 for the urban non-manual employees, hereby specifies the Cost Inflation Index for the...

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Recent Posts in "indexation"

CBDT notifies Cost Inflation indexes with Base Year as 2001-02

Notification No. 44/2017-Income Tax (05/06/2017)

CBDT has vice Notification No. 44/2017 notified Cost Inflation indexes with Base Year as 2001-02 for the Financial Year 2001-02 to 2017-18 and same are applicable from Financial Year 2017-18....

Read More

Cost Inflation Index – Meaning & Index from 1981-82 to 2017-18

Article discusses Meaning of Cost Inflation Index (CII) which is used for Computation of Long Term Capital Gain. Cost Inflation index are Notified by CBDT every year and till date CBDT has notified Cost Inflation Index for the Financial Year 1981-82 to Financial year 2016-17. Cost Inflation index are used for computing indexed cost of ac...

Read More
Posted Under: Income Tax | ,

Cost Inflation Index table : Base year 1-4-2001, Finance Bill 2017

Govt. has come out with index table called Cost Inflation Index whose base year was fixed as 1-4-1981. In Finance Bill 2017 the Govt. has taken a very bold step and has shifted the base year from 1981 to 2001 for the benefit of investors....

Read More
Posted Under: Income Tax | ,

Shifting base year from 1981 to 2001 for capital gain computation

In order to revise the base year for computation of capital gains, it is proposed to amend section 55 of the Act so as to provide that the cost of acquisition of an asset acquired before 01.04.2001 shall be allowed to be taken as fair market value as on 1st April, 2001 and the cost of improvement shall include only those capital expenses ...

Read More
Posted Under: Income Tax |

Immovable property held for 2 Years to be considered Long Term capital asset

It is proposed to amend section 2 (42A) of the Act so as to reduce the period of holding from the existing 36 months to 24 months in case of immovable property, being land or building or both, to qualify as long term capital asset....

Read More
Posted Under: Income Tax |

CBDT notifies Cost Inflation Index for Financial Year 2016-17

Notification No. 42/2016-Income Tax (02/06/2016)

CBDT has notified Cost Inflation Index for Financial Year 2016-17 / Assessment Year 2017-18 at 1125 . Cost Inflation Index for Financial Year 2015-16 was 1081 so there is an increase of 44 in Cost Inflation Index . ...

Read More

CBDT notifies Cost Inflation Index for Financial Year 2015-16

Notification No. 60/2015 - Income Tax (24/07/2015)

Notification No. 60/2015 - Income Tax S.O. (E) – In exercise of the powers conferred by clause(v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India in the...

Read More

Budget 2014 – Cost Inflation Index to be worked out on the basis of Index notified by Govt in this behalf

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Cost Inflation Index The existing provisions contained in section 48 prescribe the mode of computation of income chargeable under the head “Capital gains”. Clause (v) of the Explanation to the said section defines the term “Cost Inflation Index...

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Posted Under: Income Tax |

Inflation linked indexed bonds a good alternative for Retail Investors

Inflation eats into your money and reduces its purchasing power. To tackle this, you need to invest in products that beat inflation. Inflation-indexed bonds, due to be floated later this month, may be one such option. ...

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Posted Under: Income Tax |

Cost Inflation Index for Financial Year 2013-14

Notification No. 40/2013 - Income Tax (06/06/2013)

Notification No. 40/2013 - Income Tax S.O. 1464(E) - In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), C...

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