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 2015-16 at 254, 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
Trademark Renewal Delays: Legal Impact and Costs Introduction A registered trademark protects your brand identity and grants exclusive usage rights.…
How Virtual Offices Helps in Remote US Company Incorporation? Introduction Starting a business in the United States no longer requires…
How Foreigners Can Register a Company in India Without an Indian Partner Introduction Foreign nationals can establish a business in…
Due Date of Filing of ITR 2024-25 Introduction Whether you're a salaried employee, business owner, freelancer, or part of a…
National Single Window System(NSWS) Introduction The National Single Window System (NSWS) is a digital platform launched by the Indian government…
What to Do If You Miss the MGT-7 Filing Deadline? Introduction For any company operating in India, staying on top…
Leave a Comment