New Cost Inflation Index Table: Check here the latest cost inflation index table.
Sr.No. | Financial Year | Cost Inflation Index |
1 | 2001-02 | 100 |
2 | 2002-03 | 105 |
3 | 2003-04 | 109 |
4 | 2004-05 | 113 |
5 | 2005-06 | 117 |
6 | 2006-07 | 122 |
7 | 2007-08 | 129 |
8 | 2008-09 | 137 |
9 | 2009-10 | 148 |
10 | 2010-10 | 167 |
11 | 2011-12 | 184 |
12 | 2012-13 | 200 |
13 | 2013-14 | 220 |
14 | 2014-15 | 240 |
15 | 2015-16 | 254 |
16 | 2016-17 | 264 |
17 | 2017-18 | 272 |
18 | 2018-19 | 280 |
19 | 2019-20 | 289 |
20 | 2020-21 | 301 |
21 | 2021-22 | 317 |
22 | 2022-23 | 331 |
Check Capital Gain Tax Rates Here
Updates
As per Notification No. So 3266(E) [No. 63/2019 (F.No. 370142/11/2019-TPL)], Dated 12-9-2019, following table should be used for the Cost Inflation Index :
The notification no.26/2018 has published on 13th June 2018 to announce the cost inflation index for financial year 2018-19. The cost inflation index for financial year is 280. You can check the following table to know the cost inflation index from F.Y. 2001-02 to F.Y.2018-19.
Amendment made by the Finance Bill 2017: Shifting base year from 1981 to 2001 for computation of capital gains (section 55) w.e.f. A.Y. 2018-19.
The finance bill 2017 has amended section 55 of the ACT so as to provide that the cost of acquisition of an asset acquired before 1-4-2001 shall be allowed to be taken as fair market value as on 1-4-2001 or the actual cost of the asset as cost of acquisition and consequently the cost of improvement shall include only those capital expenses which are incurred on or after 1-4-2001.
In the case of long-term capital gains, indexed cost of acquisition and indexed cost of improvement are deducted.
So how to calculate indexed cost of acquisition and indexed cost of improvement. The answer is with the help of cost inflation index. The following table contain cost inflation index up to F.Y. 2016-17.
Cost inflation index (CII) as notified by the central government is as under.
Cost Inflation Index From 1981-82 to 2016-17
F.Y. | CII | F.Y. | CII |
1981-82 | 100 | 1999-00 | 389 |
1982-83 | 109 | 2000-01 | 406 |
1983-84 | 116 | 2001-02 | 426 |
1984-85 | 125 | 2002-03 | 447 |
1985-86 | 133 | 2003-04 | 463 |
1986-87 | 140 | 2004-05 | 480 |
1987-88 | 150 | 2005-06 | 497 |
1988-89 | 161 | 2006-07 | 519 |
1989-90 | 172 | 2007-08 | 551 |
1990-91 | 182 | 2008-09 | 582 |
1991-92 | 199 | 2009-10 | 632 |
1992-93 | 223 | 2010-11 | 711 |
1993-94 | 244 | 2011-12 | 785 |
1994-95 | 259 | 2012-13 | 852 |
1995-96 | 281 | 2013-14 | 939 |
1996-97 | 305 | 2014-15 | 1024 |
1997-98 | 331 | 2015-16 | 1081 |
1998-99 | 351 | 2016-17 | 1125 |
How to calculate indexed cost of acquisition?
To calculate indexed cost of acquisition, you have to follow three points as given below.
- Cost of acquisition (Your purchase price of property)
- Cost Inflation Index of Previous Year in Which the Asset is Transferred (When Property Sold Out)
- Cost Inflation Index of the year in which the asset was first held by the assessee or. 1.4.1981 (now 1-4-2001 w.e.f. F.Y. 2017-18) (whichever is later)
Now to calculate indexed cost of acquistion, use the following formula.
Cost of Acquistion (Purchase Price) x CII of the year of transfer / CII of the year acquisition = Indexed cost of acquisition
Example to understand Cost of Inflation Index
- A purchased a plot on 4-1-1978 for Rs.1,00,000/-
- The land was sold by A on 1-6-2016 for Rs.18,00,000/-
- The expenses on transfer were 2% of the sale price
- The market value of the land as on 1-4-1981 was Rs. 1,20,000/-
Sale Consideration | 18,00,000/- | |
Less: Expenses on Transfer | 36,000/- | |
Indexed cost of acquisition – 1,20,000 x 1125 / 100 =
|
13,50,000/-
|
13,86,000/-
|
Long-term capital gain | 4,14,000/- |
i have purchased a plot in [email protected] n expenses to secure the property cost total 1 lakh. this property may be sold in 90 lakh . what will be my LTCG .
I sale a long term house on 30june 17 and incurred cost of improvement on 1 January 2017 wether cost of improvement will indexed or not
Which ITR to use for showing income from Infra bonds redeemable after 5yrs?
hi i would like to know how much income tax i need to pay if i sell plot of mine for rupees 50 lakh..which i purchased in 2009 for rupees 10 lakh
If the immovable property is purchased well before the base reference year how to calculate the cost inflation index applicable to property if it is to be sold now
I have incurred following costs on my residential property which I may want to sell soon.
Cost – 6 lacs in 1997 – 98
Maintenance paid to Society – about Rs.700/- pm for 18 years
Registration cost – about Rs.1.0 lac in 2009
What will be my exemption limit on sale value for assessment of tax. It may sell for about 40lacs now.
Mr. Anis,
Whatever the cost of purchase may be, your CII will be
Cost of Purchase X CII of Year of Sale made / CII of Year of Purchase
like wise
Cost of Improvement X CII of Year of Sale made / CII of Year of Improvement made
after arriving the same, you can claim deduction of registration charges too