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Sameer Patel

Stealth • 9m

Cost Inflation Index The Cost Inflation Index (CII) helps adjust the purchase price of an asset to account for inflation, making it easier to calculate capital gains tax fairly in India. The government updates the CII every year. Example: If you bought a property for ₹10 lakhs in 2005 (CII = 117) and sold it in 2023 (CII = 331), you adjust the purchase price using CII: ₹10 lakhs * (331/117) = ₹28.29 lakhs. This means, for tax purposes, your purchase price is considered ₹28.29 lakhs, reducing your taxable gain to ₹1.71 lakhs (sale price ₹30 lakhs - adjusted price ₹28.29 lakhs).

0 replies15 likes

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Hiral Jain

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Greetings everyone! So in a previous post, I spoke about the tax system let's take a deep dive into it! India follows a progressive taxation system, i.e. tax is imposed on their income, but this isn't fair, especially for paid employees! It's becau

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Dhanush R

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