Cost of inflation index 2001-02
Web2 days ago · Now the indexed cost of acquisition will be as per the above formula i.e. Indexed Cost of Acquisition= (Rs.50 lakh/117)*272=Rs.1,16,23,931. So the Long Term Capital Gain=Selling Price-Indexed Cost of buying property=Rs.33,76,069. (Note-As per the below Cost of Inflation Index (CII), the CII rate for FY 2024-18 is 272 and for FY 2005 … WebConsumer Price Index up 0.4 percent over the month, 6.0 percent over the year, in February 2024 The Consumer Price Index for All Urban Consumers rose 0.4 percent in February 2024 (seasonally adjusted) after rising 0.5 percent in …
Cost of inflation index 2001-02
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Web2 days ago · Now the indexed cost of acquisition will be as per the above formula i.e. Indexed Cost of Acquisition= (Rs.50 lakh/117)*272=Rs.1,16,23,931. So the Long Term … WebThe formula to calculate the cost inflation index is as follows : Cost Inflation Index (CII) = Sales Amount - (Purchase Amount * (Index in year of sale / Index in year of purchase)) Suppose, you purchased an apartment for Rs.20 lakhs in financial year 2000-01 and sold it for Rs.35 lakhs in financial year 2009-10.
WebJul 16, 2024 · The cost inflation index in India is currently published with 2001-02 as the base year. It was earlier published with 1981-82 as the base year. ... Cost Inflation … WebApr 11, 2024 · Cost Inflation Index (CII) for the base financial year 2001-02 is 100. Hence, the cost of the assets purchased on or before FY 2001-02 has increased by more than …
Web2 days ago · Cost Inflation Index (CII) for FY2024-24 is 348. ... For a list of historical CII numbers since the financial year 2001-02, please check this detailed post Historical Cost Inflation Index (CII) Numbers. This CII number is important as it will be used to compute inflation-adjusted long-term capital gains (LTCG) on assets such as a house, gold ... WebApr 11, 2024 · Cost inflation index (CII) is required to calculate the inflation-adjusted cost of asset acquisition/ improvement for computation of long term capital gain (LTCG) of …
WebApr 11, 2024 · The CII number mentioned in the table above starts from financial year 2001-02. This is because the government shifted the base year for the cost inflation index …
WebThe Consumer Price Index (CPI) of the current year is compared to that of the base year to determine the CII (which is currently 2001-02 in India). The CPI calculates the average change in prices for household consumption of goods and services. smite pantheon leadersWebJun 15, 2024 · Cost Inflation Index from Financial Year 2001-02 to Financial Year 2024-23. In order to revise the base year for computation of capital gains, section 55 of the Income … smite overlay mmrWebMar 31, 2024 · The first phase is the expansion phase. This is when economic growth is positive, with a healthy 2% rate of inflation. The Federal Reserve ("the Fed") considers this an acceptable rate of inflation. 1 On August 27, 2024, the Fed announced that it would allow a target inflation rate of more than 2% if that will help ensure maximum employment. smite or sharpness on axeWebCBDT announces fresh CII each year using the base year 2001-02 as equal to 100. Notably, the Finance Act 2024 has modified the provisions relating to the ‘cost inflation index’ or … smite patch newsWebCII for the year 2001-02 and 2015-16 is 100 and 254 respectively. Therefore, indexed cost of asset acquisition = (2,20,000 x 254)/100 = Rs. 5,58,800. Things to Note about Cost … smite outdoor gameWebDec 2, 2024 · The Central Board of Direct Taxes (CBDT) calculates the cost inflation index by notification in the Official Gazette. Cost Inflation Index = 75% of the average rise in … smite or sharpness on swordWebSep 13, 2024 · The formula is as below. Indexed Cost of Acquisition = (Cost of Acquisition/Cost of Inflation Index (CII) for the year in which the asset was first held by the assessee OR FY 2001-02, whichever is later)* Cost of the Inflation Index (CII) for the year in which the asset was sold or transferred. smite pantheons