WebJul 16, 2024 · The cost inflation index in India is currently published with 2001-02 as the base year. It was earlier published with 1981-82 as the base year. ... 2016-17: 264: 2024-18: 272: 2024-19: 280: 2024-20: 289: 2024 … WebCost Inflation Index or CII is a tool used in the calculation of an estimated yearly increase in an asset’s price as a result of inflation. The Central Government fixes this index and …
Cost Inflation Index - Overview of CII, Calculation Table & Examples
WebThe CPI inflation calculator uses the Consumer Price Index for All Urban Consumers (CPI-U) U.S. city average series for all items, not seasonally adjusted. This data represents … WebJun 7, 2024 · The formula is as below. Indexed Cost of Acquisition=(Cost of Acquisition/Cost of Inflation Index (CII) for the year in which the asset was first held by the assessee OR FY 2001-02, whichever is later)* Cost of … breast cancer operations
Cost Inflation Index for FY 2024-22 – myITreturn Help Center
WebApr 11, 2024 · The Cost Inflation Index for FY 2024-24 relevant to AY 2024-25 stood at 348, as per a notification of the Central Board of Direct Taxes (CBDT). Usually, the income tax department notifies CII in the month of June. The CII number for last fiscal was 331 and for 2024-22 financial year it was 317. WebShe sold the house in FY 2024-18. Calculate the indexed cost of acquisition for the house. Here, Cost Inflation Index for FY 2001-02 and 2024-18 are 100 and 272, respectively (See the Cost Inflation Index Chart). Therefore, the indexed cost of acquisition for Mrs.'s house = 20,00,000 x 272/100 = Rs. 54,40,000. WebDec 17, 2024 · Cost Inflation Index or CII- What is Cost Inflation Index (CII) and how is it calculated with formula. ... 2016-17: 264: 2024-18: 272: 2024-19: 280: 2024-20: 289: 2024-21: ... X then sold this asset in the FY 2024-18. As can be seen from the example, Mr. X purchased the asset before the base year. Therefore, the cost of asset acquisition will ... cost savings by going solar