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Cstinflndx

The government has notified the Cost Inflation Index of 551 for computing long term capital gains for financial year 2007-2008. The formula to calculate indexed cost of acquisition is: Cost x (CII for year of transfer - CII for year of acquisition) / CII for year of acquisition. An annexure provides the Cost Inflation Index for financial years 1981-1982 to 2007-2008.

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40 views2 pages

Cstinflndx

The government has notified the Cost Inflation Index of 551 for computing long term capital gains for financial year 2007-2008. The formula to calculate indexed cost of acquisition is: Cost x (CII for year of transfer - CII for year of acquisition) / CII for year of acquisition. An annexure provides the Cost Inflation Index for financial years 1981-1982 to 2007-2008.

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Cost Inflation Index for computation of Long Term Capital Gains

Financial Year 2007-2008

The Government has notified the Cost Inflation Index of 551 for the purpose of
computation of Long Term Capital Gains for transfers effected during financial year
2007-2008.

The Formula to compute indexed cost of acquisition is:

Cost x CII for the year of transfer (i.e. 2007-08) - 551


CII for the year of acquisition (as per annexure)

…………………
Annexure

Notification u/s. 48, clause (v) of Explanation, of the Income Tax Act, 1961 –
Capital gains – Mode of computation – Notified Cost Inflation Index

Sr. No. Financial Year Cost Inflation Index

1 1981-82 100
2 1982-83 109
3 1983-84 116
4 1984-85 125
5 1985-86 133
6 1986-87 140
7 1987-88 150
8 1988-89 161
9 1989-90 172
10 1990-91 182
11 1991-92 199
12 1992-93 223
13 1993-94 244
14 1994-95 259
15 1995-96 281
16 1996-97 305
17 1997-98 331
18 1998-99 351
19 1999-2000 389
20 2000-01 406
21 2001-02 426
22 2002-03 447
23 2003-04 463
24 2004-05 480
25 2005-06 497
26 2006-07 519
27 2007-08 551

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