Tag Archives: CII

CII (COST INFLATION INDEX) INCOME TAX- 1981 to 2017

By | December 28, 2015

Cost Inflation Index under Income Tax Act   What is Cost Inflation Index ? Cost Inflation Index (CII) is a measure of inflation that is used for computing long-term capital gains on sale of capital assets under Section 48 of the Income-Tax Act. What are the COST INFLATION INDEX notified by the Government ? Read New CII Index Base Year… Read More »

Inherited property Capital Gain Calculation

By | July 29, 2015

Question : How to Calculate Capital Gain in case of inherited property ? Answer : Capital gain in case of inherited property is to be computed by taking CII of the year in which asset is acquired by previous owner   As per section 49 where capital asset became property of assessee by succession or inheritance, then… Read More »