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Cost Inflation Index – Meaning & Index from 1981-82 to 2024-25

Income Tax : CBDT has notified Cost Inflation Index (CII) from 1981-82 to 2023-24. Find out the Meaning & Index of CII and its use for computin...

May 26, 2024 2281574 Views 319 comments Print

Section 48: Indexed Cost of Acquisition in case of instalments purchase

Income Tax : Learn how to calculate period of holding and indexed cost of acquisition for property acquired through allotment letters or sale a...

September 17, 2023 6678 Views 2 comments Print

Capital Gain Tax on Sale of Properties

Income Tax : Explore the complexities of Capital Gain Tax on the sale of properties. Learn about Long Term Capital Gain (LTCG), Short Term Capi...

December 17, 2022 8916 Views 0 comment Print

Section 55 | Income Tax Act, 1961 | Acquisition & Improvement Cost

Income Tax : Short Notes on Section 55 of Income tax act 1961. (Opting for benefit of Section 55 ) 1. Cost of acquisition of capital assets bec...

May 5, 2021 54003 Views 5 comments Print

Why returns of index funds vary from its index & Other similar funds

Finance : Index Mutual Funds invests in stocks resembling underlying indexes. For example, a Nifty 50 index fund invests in stocks in the sa...

January 10, 2021 8058 Views 0 comment Print


Latest News


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...

November 20, 2011 39166 Views 9 comments Print

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...

November 16, 2009 355 Views 0 comment Print

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

Income Tax : Foreign companies cannot be discriminated vis-a-vis Indian firms so far as capital gains tax on securities transaction is concerne...

August 12, 2009 394 Views 0 comment Print

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

Finance : Markets have stopped trading for the day as the benchmarks hit another upper circuit Monday as soon as the trade resumed after 2 ...

May 18, 2009 762 Views 0 comment Print

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

Finance : The merger of Reliance Pertroleum (RPL) with Reliance Industries (RIL) is the latest in a long string of amalgamations and mergers...

March 6, 2009 2141 Views 0 comment Print


Latest Judiciary


ITAT Bound by Jurisdictional HC Precedent on Inherited Property Indexation Base Year

Income Tax : ITAT Chennai dismisses the revenue's appeal in Easwari Sukanya Krishnan Vs. ITO, upholding the indexation benefit as per the juris...

July 26, 2023 537 Views 0 comment Print

Property from ‘Will’ eligible for cost indexation from first owner’s acquisition date

Income Tax : Mumbai ITAT holds that while computing capital gains arising on transfer of a capital asset received by the Assessee under a will,...

March 23, 2023 3723 Views 0 comment Print

Year of Indexation & Cost of Acquisition in case of bequeathed Property

Income Tax : Rohan Developers Pvt. Ltd. Vs ITO (Bombay High Court) According to petitioner, under Section 49(1)(ii) of the Act, cost of acquisi...

February 25, 2022 4686 Views 0 comment Print

Indexation benefit allowable till the year of assessment of capital gain

Income Tax : Global Health Private Limited Vs DCIT (ITAT Delhi) A plain reading of section 45(2) makes it amply clear that it is the prerogativ...

June 30, 2021 1911 Views 0 comment Print

Indexed Long-Term Capital Loss from Sale of Government Securities allowable

Income Tax : Peerless General Finance & Investment Company Limited Vs DCIT (ITAT Kolkata) It is observed that the issue relating to the ass...

March 19, 2021 1671 Views 0 comment Print


Latest Notifications


CBDT notifies Cost Inflation Index for Financial Year 2024-25

Income Tax : The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2...

May 24, 2024 40428 Views 0 comment Print

Cost Inflation Index for Financial Year 2020-21- CBDT Notifies

Income Tax : CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 or Assessment Year 2021-22 vide  Notification No. 32/202...

June 12, 2020 31443 Views 0 comment Print

CBDT notifies Cost Inflation Index for Financial Year 2019-20

Income Tax : CBDT notifies Cost Inflation Index for Financial Year 2019-20 vide Notification No. 63/2019 dated 12th September, 2019. Cost Infla...

September 12, 2019 26169 Views 2 comments Print

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

Income Tax : CBDT has vice Notification No. 44/2017 notified Cost Inflation indexes with Base Year as 2001-02 for the Financial Year 2001-02 to...

June 5, 2017 70878 Views 13 comments Print

CBDT notifies Cost Inflation Index for Financial Year 2016-17

Income Tax : CBDT has notified Cost Inflation Index for Financial Year 2016-17 / Assessment Year 2017-18 at 1125 . Cost Inflation Index for Fin...

June 2, 2016 16525 Views 0 comment Print


Why returns of index funds vary from its index & Other similar funds

January 10, 2021 8058 Views 0 comment Print

Index Mutual Funds invests in stocks resembling underlying indexes. For example, a Nifty 50 index fund invests in stocks in the same proportion of its underlying index. Here one may conclude that returns of all index funds underlying the same index should be the same.

Residential property and Tax on capital gain

November 21, 2020 28625 Views 19 comments Print

When investors make profits on sale of assets like land, shares and mutual fund units, it is termed as capital gains. The investor has to pay tax on the resulting gains that is commonly referred to as capital gains tax. The amount of money outflow from your pocket depends on how long you held the property. If a residential property is held by the seller for more than 36 months, it is considered a long-term investment. For investments over the short term, the short-term capital gain is added to your total income. You will be taxed depending on the tax bracket you fall in. When computing long-term capital gain, a bit more complexity is involved. Indexation is the process by which inflation is taken into account and the purchase price is proportionately increased. Consequently, the amount you end up paying as tax is reduced.

For Indexation of cost, Effective date is date of allotment of property

November 18, 2020 15621 Views 0 comment Print

For computing indexed cost of the asset, the date is to be reckoned from the date of allotment of the property to the assessee, and not from the date on which possession certificate was issued to the assessee.

Index Funds Sahi Hai

September 9, 2020 3939 Views 0 comment Print

Nifty 50 is the most common, liquid and tracked index by all the traders/investors of the share market to determine the direction wherein the broader market is moving ahead. It is the flagship index on the National Stock Exchange (NSE) which consists 50 largest conglomerates of India based on the free float market capitalization of companies listed on the NSE.

Cost Inflation Index Table upto Financial Year 2020-21

August 9, 2020 618273 Views 19 comments Print

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.

Cost Inflation Index for Financial Year 2020-21- CBDT Notifies

June 12, 2020 31443 Views 0 comment Print

CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 or Assessment Year 2021-22 vide  Notification No. 32/2020-Income Tax dated 12th June 2020 at 301. Cost Inflation Index helps taxpayer calculation his Long Term Capital Gain on sale of Long Term Capital Assets. Also Read-Cost Inflation Index – Meaning & Index from 1981-82 to […]

Indexation of Inherited Property

June 6, 2020 88021 Views 12 comments Print

A big question arise in the mind of every professional that whether benefit of Indexation can be claimed on Inherited Property ; if yes then second half thought is whether it can be claimed from the year in which it is first held by the assessee or from the year in which it is occupied by the Previous Owner or predecessor.

Cost Inflation Index [Explanation (v) to Section 48 of Income Tax]

April 14, 2020 32292 Views 1 comment Print

As per Incoem Tax- COST INFLATION INDEX in relation to a previous year, means such index as the Central Government may, having regard to 75% of average rise in the Consumer Price Index (urban) for the immediately preceding previous year to such previous year, by notification in the official Gazette, specify, in this behalf.

Interest part of Cost of Property & eligible for indexation & deduction

February 28, 2020 43413 Views 1 comment Print

Interest paid  on the borrowing made for acquiring Capital Asset (House Property)  is part of the cost of acquisition and therefore eligible for indexation and deduction from the Sale Consideration  for computation of capital gains. 

In case of dual views, view adopted by A.O. is valid & cannot be called erroneous

February 25, 2020 1854 Views 0 comment Print

The issue under consideration is that, when two views are possible and A.O. adopt one of the view and passed his order accordingly. But that view is not acceptable by PCIT, in such case can PCIT adopt its one of the other views and call the order of A.O. the erroneous?

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