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. However, in the case of transfer of long term capital asset, capital gains are determined by deducting indexed cost of acquisition/ improvement from the sale consideration.
It may be noted that Budget 2017/ Finance Act 2017 has proposed amendments in provisions relating to indexation for the purpose of determining long term capital gains. Base year has been shifted from FY 1981-82 to FY 2001-02. 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 figure of long term capital gains. It’s likely that investors in property will stand to gain in most of the cases with shifting of the base year for the purpose of indexation.
Cost Inflation Index basically means the index notified by the Central Govt. with reference to average rise in the consumer price index, during the year immediately preceding the relevant previous year. However, indexed cost of acquisition is arrived at by multiplying the cost of acquisition with the change in cost inflation index since the year of acquisition or 1 April, 2001 whichever is later.
Cost Inflation Index (CII) for FY 2017-18/ AY 2018-19 Notified by CBDT at 272 (Base Year 2001-02)
CBDT has notified the Cost Inflation Index (CII) for Financial Year (FY) 2017-18/ Assessment Year (AY) 2018-19 at 272, with new Base Year 2001-02 (cost inflation index=100) in line with the amendments made in Budget 2017, as under:
S.O. 1790(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 specifies the Cost Inflation Index as mentioned in column (3) of the Table for the Financial Years mentioned in the corresponding entry in column (2) of the said Table, namely:—
| SI. No. | Financial Year | Cost Inflation Index |
| 1 | 2001-02 | 100 |
| 2 | 2002-03 | 105 |
| 3 | 2003-04 | 109 |
| 4 | 2004-05 | 113 |
| 5 | 2005-06 | 117 |
| 6 | 2006-07 | 122 |
| 7 | 2007-08 | 129 |
| 8 | 2008-09 | 137 |
| 9 | 2009-10 | 148 |
| 10 | 2010-11 | 167 |
| 11 | 2011-12 | 184 |
| 12 | 2012-13 | 200 |
| 13 | 2013-14 | 220 |
| 14 | 2014-15 | 240 |
| 15 | 2015-16 | 254 |
| 16 | 2016-17 | 264 |
| 17 | 2017-18 | 272 |
| 18 | 2018-19 | 280 |
2. This notification shall come into force with effect from 1st day of April, 2018 and shall accordingly apply to the assessment year 2018-19 and subsequent years.
Author Bio
Purchased a flat in 15/7/19 for 318325 and sold it for 3300000/-
What is the ready reckoner cost in April 2022
my dad was purchase flat in bhayandar east, Thane in the year 1989-90 worth Rs-65000 with all inclusive
and now in feb-2023 i am going to sale this flat by 16,50,000/- how much i have to pay LTGS and can i reinvest this amount in another flat or property in what time frame?? please guide me
please advise me the Indexed cost(also the calculation) of Following Shares sold in FY2022-23 for computing long capital gain u/s 112:
12700 shares purchased in FY1994-95
Cost: Rs. 762000/-
I purchased a flat for 7000000/- in 15th September 2018 and now I am selling it for 80.50 lacs on 21/11/2021.
1) Is it coming under long term gain or short term gain ,
2) how much tax I have to pay .
I have purchased flat in 2001 for Rs 400000/- at Vasai,Palghar. Selling at Rs, 3300000/- in 2021.
I will use that AMT to construct house at Mangalore.
Is LTCG applicable.?
I purchased a Flat in 1994 for Rs.2 lakh and sold for Rs.27.5 lakh in 2019.what shall be the capital gain
i have received from my father a property for 36000 as value during 1997. what is its indexed value during 2020-21
Purchased a Flat in Powai in July ‘2001 for Rs. 5,90,000/-, spent Rs. 13,000/- on Stamp Duty and Registration. Later in 2006 and 2012 spent on improvement a total amount of Rs. 2,10,000/-.
I sold the Flat in August 2019 for a total of Rs. 72,00,000/- as also spent roughly around 30,000/- for transfer charges, broker commission and legal formalities.
What will be my computer LTCG and how much will be the tax that I am required to pay if in February 2020 I have purchased another flat for Rs. 55,00,000/- all inclusive.
Property purchased dec 2009 rs 840000 sell in 2020 Jan rs 2000000 what will be capital gain pl reply
Property purchased in FY 1999-2000 for Rs.4,60,000 is sold in FY 2019-20 for Rs.45,00,000/-. What will be indexed cost of acquisition and the CG amount?
i have purchased property in 2006 for 300000+40000 registration and brokerage charges. i sold it for 3390000 in Aug19 what is the inflation index cost
When will be CII indexation for 2019-20 will be released?
when will be cii for index will be pulisheshed
when will be cii for 2019-20 will be published
flat purchased 521000 28/12/2006
stamp 31000
total 552000 purchse cost
sale 10,00,000 06/11/2018
how many rupees capital gain
When will the CII index for FY 2019-20 be published?
Dear Sir,
I had purchased open plot for Rs.12500/- in 1989 have not constructed/made any additions to said house afterwards and want to sell the same in September 2018 for Rs.25.00Lakhs. What will be Long Term Capital Gains Tax liability and how much amount i may have to invest in REC Bonds to avoid the LTCG tax. Please elaborate the same.
As per the valuation report of 2001-02 devaluation of my house is 3953000/- and I have sold the house in 2018-19 in the month of Dec 2018 what will be my capital gain an how much amount I have to invest
Pitched flat in1992 c
RS 2.2lakh
Sale June 2019
Rs26 lakh
How to calculate cii
Hello, I want to know how we can estimate the Indexation for the FY 2019-20. for calculation Capital Gain? Or when Govt. will declare the indexation for FY 2019-20?
Plot purchedin 2007, 342000rs and sale in 2019 , 170000 payable tax
Purchased new flat in Nov’1996 for 2.89L. Improvement cost 25000 +registration 6500 + brokerage 10000. Sold in April 2019 for 30L less beokerage 60000. What will be my LTCG and my tax burden. How to save the tax. Request your help to understand.
Rgds.
I have purchased a industrial warehouse in March 2009 for 21 lacs, paid stampduty accordingly. Now the market value of that property is 45 lacs however the reckoner value is 73 lacs for the property since it comes under special zone.
I need to know what will be the implication of selling at 45 lacs since it is almost 28 lacs less on my Incometax liability.
residential plot purchased feb1986 for 45000/- construction cost 2.00lakhs completed 1987 march.
now market price 20 lakhs. plse notify capital gain tax under indexation
Cost of flat in 2012 Rs 43.54 Lacs .Cost of improvement in Han 2014 Rs 2.60 Lacs
Flat sold in Dec 2018 for Rs 58 L but sale deed at Rs 64.94 Lacs (Circle rate) Rs 50000 paid as brokerage
What will be capital gain after taking indexation cost of purchase price and improvement
purchase year 1996 November for Rs. 2.95 lakhs
sale year 2018 July Rs. 16.50 lakhs
how much CG Tax please say
Hello sir/madam , amount spend on Borewell, tank water, septic tank, EB metre will consider as cost of improvement while selling the property???
hello sir/madam,amount spend on Borewell, EB meter ,Tank Water,Septic tank will consider as cost of
improvement while selling the property
i have inherited 122 shares of a private company, purchased by parents 50 in 1979 and then 32 shares in 1990 and 40 shares in 1992, as right issue. The Company changed the name of the company in January 2012. (not listed in the market) The shares were transmitted in my favour in May2017.. This company amalgamated with other Private Limited company (not listed) in October/November 2017 with consideration of issue of 2 is to 1 OCRPS. Accordingly I received 61 OCRPS.Since I did not adopt option of conversion the OCRPS are redeemed at Rs. 10141/-. Unfortunately I do not have details of original purchase cost of 122 shares.Nor the market price on the date of transmission in my favour I therefore seek your advise of working LTG Tax.
1) I purchased house in May 1988 agreement value Rs 142800
2) Registration fee paid Rs 1470
3) while paying Stamp duty in March 1995, valuation as per ready reckoner 1990 was considered as 343000
4) stamp duty paid Rs 6210 and deffrential registration Rs 2000 in March 19995
5)Had taken loan for property and total interest paid Rs 158600
Now selling price expected is Rs 85 lacs
My Query
1) What will be capital gain for Tax and percentage of Tax
2) For buying new house ready possesion can it be done in financial year 2019-20 without paying tax on income of financial year 2018-19
I have bought an under construction flat in 2010 for Rs 2350000. Construction of which was completed in 2018 and it is now ready for possesstion. I am selling it for 28Lacs now without taking possession myself
What will be the long term capital gain tax?
My wife is the first name in builder buyer agreement though I have paid EMI for a loan taken on it.
Who will be liable to pay the LTCG.
In both the above examples, if the property is purchased/ constructed prior to base year , then firstly one is required to find out it’s Fair Market Value (FMV)as on 1-4-2001, from Govt. registered Valuator & then only apply the CII to arrive at the inflation adjusted current value.Please confirm by expert.
Hi,
Is registration and stamp duty considered while computing cost of acquisition?
Which means if the agreement value is 10 lakhs and stamp duty paid is 50000 and registration is 10000 then cost of acquisition is 1060000?
My Father purchased Plot in 1989 worth rs 3000
now my Fatehr Selling Plot in 2018. What would be Cost of Acquisition??
Dear Sir,
I had purchased a residential plot for Rs.25000/- in 1991 and constructed a house on it for Rs.246000/- in 1992-93 (as per Muncipal Assessment). I have not constructed/made any additions to said house afterwards and want to sell the same in September 2018 for Rs.25.00Lakhs. What will be Long Term Capital Gains Tax liability and how much amount i may have to invest in REC Bonds to avoid the LTCG tax. Please elaborate the same.
In the article above, you have mentioned that 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 figure of long term capital gains.
Please explain this with an example so that I can calculate LTCG myself. I have purchase property in FY.1994-95 and sold the same in FY.2018-19.
Best regards.
I request the author to clarify the following statement in his article. Thanks.
“Base year has been shifted from FY 2001-02 to FY 2001-02. “