Income tax

Cost inflation Index for Financial Year 2002-03

Cost inflation Index for Financial Year 2002-03

 

It may be noted that Budget 2017/ Finance Act 2017 has proposed amendments in provisions relating to indexation for the purpose of determining long term capital gains. Base year has been shifted from FY 1981-82 to FY 2001-02. In respect of assets acquired prior to 1 Apr 2001, the assess now has the option to use FMV/ Indexed Cost of Acquisition for arriving at the figure of long term capital gains. It’s likely that investors in property will stand to gain in most of the cases with shifting of the base year for the purpose of indexation.

 

CBDT has notified the Cost Inflation Index (CII) for Financial Year 2002-03 at 105, with new Base Year 2001-02 (cost inflation index=100).

 

Know CII for all years at once place here.

 

Need help in filing your Income tax return? Get experts help at ebizfiling.com.

 

Get Started With Your ITR Filing Now

 

About EbizFiling.com :

 

EbizFiling.com is a motivated and progressive concept conceived by like-minded people, which helps small, medium and large businesses to fulfill all compliance requirements of Indian Laws.

 

Get in touch for a free consultation on info@ebizfiling.com or call 9643203209.

Ishita Ramani

Ishita Ramani is a young woman entrepreneur and currently the Operations Director at Ebizfiling India Private Limited. In her entire career so far, she has led a team of 50+ professionals like CA, CS, MBAs and retired bankers. Apart from her individual experience on almost every facet of Indian Statutory Compliances, she has been instrumental in setting up operations at Ebizfiling.com! Read about her journey at- https://www.greatcompanies.in/post/ishita-ramani-operation-director-at-ebizfiling-india-pvt-ltd

Leave a Comment

Recent Posts

Due Date of Filing of ITR 2024-25

Due Date of Filing of ITR 2024-25 Introduction Whether you're a salaried employee, business owner, freelancer, or part of a…

5 hours ago

National Single Window System(NSWS)

National Single Window System(NSWS) Introduction The National Single Window System (NSWS) is a digital platform launched by the Indian government…

6 hours ago

What to Do If You Miss the MGT-7 Filing Deadline?

What to Do If You Miss the MGT-7 Filing Deadline? Introduction For any company operating in India, staying on top…

7 hours ago

Penalties for Late of OPC Annual Filing

Penalties for Late of OPC Annual Filing Introduction Filing annual returns on time is mandatory for every One Person Company…

9 hours ago

Form AOC-4 for OPC Annual Filing

Understanding Form AOC-4 for OPC Annual Return Filing Introduction Form AOC-4 is a crucial document that every One Person Company…

11 hours ago

LLP Annual Filing vs. Other Business Filing

LLP Annual Filing vs. Other Business Filing: A Detailed Comparative Analysis Introduction Choosing the right business structure is important for…

1 day ago