WebCost Inflation Index or CII is used for calculating an estimated yearly increase in an asset’s price as a result of inflation. ... 2024-22. 317. 2024-23. 331. The new ... Therefore, the … Web22 rijen · 16 jun. 2024 · Using the formula mentioned above, the indexed cost comes out to be ] (317/122)*20,00,000] Rs 51,96,721. The long-term capital gains will be [Rs 85 lakh less of Rs 51,96,721] Rs 33,03,279. The …
CBDT Notifies Cost of Inflation Index (CII) for 2024-21
Web11 apr. 2024 · Cost Inflation Index For FY 2024-24 (AY 2024-25): Check out cost expansion card map from 2001-02 to 2024-23. Cost Inflation index also called Capital gain index lives used into calculate the indexed cost of acquisition for long-term capitalize gain taxi. Read dieser article at know more about the cost increase card who inform it with … Web17 mrt. 2024 · Indexed Cost of Acquisition = (Cost of Acquisition * Cost of the Inflation Index (CII) for the year in which the asset was sold or transferred.)/ The cost of Inflation Index (CII) for the year in which the … chefs warehouse myrtle beach
I-T Department notifies cost inflation index for FY22 for computing ...
Web13 nov. 2024 · The Cost Inflation Index for FY 2024-23 (AY 2024-24) is 331. How to calculate the Indexed cost of acquisition? Let’s understand this, as an example: … WebHence, the indexed acquisition cost = 30,00,000 X 1.48 = Rs.44,40,000. Thus, the long term capital earnings derived by subtracting the indexed acquisition cost from the sale value of the capital asset will be: 45,00,000 - 44,40,000 = Rs.60,000. By using the indexation method, the tax that will be charged is 20%. Hence, 20% X 60,000 = 12,000. Web7 jul. 2024 · The cost inflation index for the fiscal year 2024-22 is 301. What does CII mean in the context of income tax? In income tax, CII stands for the Cost Inflation Index, which is used to assess the annual growth in the cost of goods and assets owing to inflation. Yes, from AY 2024-22 you can invest in two house properties if your capital gain is … chefs warehouse menu