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Cost Inflation Index for FY 2011-12 / AY 2012-13

Notification No. 35/2011 - Income Tax CBDT has vide Notification No. 35/2011 In exercise of the powers conferred by clause (v) of explanation to section 48 of the Act, CBDT has notified 785 as the cost inflation index, in respect of computation of gains arising on the transfer of long term capital asset. The said inflation index is applicable for financial year 2011-12.

Cost Inflation Index for Financial Year 2011-12 / Assessment year 2012-13

In exercise of the powers conferred by clause (v) of explanation to section 48 of the Act, CBDT has notified 785 as the cost inflation index, in respect of computation of gains arising on the transfer of long term capital asset. The said inflation index is applicable for financial year 2011-12.

COST INFLATION INDEX FOR FINANCIAL YEAR 2011-12

NOTIFICATION NO. 35/2011 [F. NO. 142/5/2011-TPL], DATED 23-6-2011

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), Central Board of Direct Taxes number S.O. 709(E), dated the 20th August, 1998, namely :—

In the said notification in the Table, after serial number 30 and the entries relating thereto, the following serial number and entries shall be inserted, namely :—

“31 2011-12 785″

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Categories: Income Tax

View Comments (16)

  • I bought one flat in Oct 2008 at the price of 20 lacs and now i am want to sell this after this oct( after 3 yrs). I am getting the deals at a price of 45 lacs.What will be the tax on my long term capital gains. My curent salary packagae is 8 lacs per anum.

  • My wife's ancestrol property Pune which was constructed around 80 years ago has been given to a promoter for making a multistorey complex which will be ready in 4 years time.As a part of the deal she has received some cash around March 2011 and signed the agreement around May 2012.We have purchased another property(50% share both) and signed an agreement in the year Feb 2011 whose value is more than the amount which she has received.Can you please let me know how do I calculate the capital gains tax on the cash received and by what date we need to pay the capital gains tax?Also my wife is working.So do I need to add the capital gains tax to her income tax and then pay the tax?

  • Dear Sir,I booked my flat in Sep 07. I got possesion in Jun 09. I am selling my flat in Sep 12 for 45 Lacs

    As per agreement, my flat basic cost was Rs. 31,56,450; Parking cost 1,30,000; MSEB 95,000; Registration 30,000; Stamp Duty is 1,47,372

    What will be capital gain?

  • i purchased the plot in dehradun in combined name of my wife and self in year november 2006 at the rate of 1250/sq mtr total land area 223.04 sq mtr.
    in year 2013 i sell the property at circle rate of 5000 / sq mtr.
    how much tax i have to pay and if yes than how can i save this amount.

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