Markets of property, shares and jewellery are speculative in nature. People buy these assets either for security (Investment) or for speculation. The transactions in these assets are also subjected to capital gain tax.
The other benefit of long term asset that they can be indexed. 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.
Also period of holding of land and / or building has been reduced from 36 months to 24 months.
Today in this article I am providing entire list of Cost Inflation Index from Financial Year 2001-02 to Financial Year 2020-21.
As per Notification No. So 3266(E) [No. 63/2019 (F.No. 370142/11/2019-TPL)], Dated 12-9-2019, following table should be used for the Cost Inflation Index:
|Sl. No.||Financial Year||Cost Inflation Index|
Note: the above list is as amended by Finance Act, 2020
Disclaimer: The contents of this article are for information purposes only and does not constitute advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer to relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up. The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. This is not any kind of advertisement or solicitation of work by a professional.
(Republished with Amendments by Team Taxguru)