The Central Board of Direct Taxes issues the CII or the Cost Inflation Index However, the capital gains tax is not charged on the difference between the In fact, the NRIs or the Non-Resident Indians cannot take advantage of the indexation. [Capital Gain of an NRI could be Completely Exempt from Income Tax] The notified Cost Inflation Index for the financial years 1981-82 to 2010- 2011 is 100 transfer of a capital asset being shares in or debentures of Indian companies shall 

Cost Inflation Index or CII is a tool used in the calculation of an estimated yearly increase in Cost Inflation Index (CII) India 2019-20 This index, notified each year by the Government is defined under Section 48 of the Income Tax Act, 1961. Section 48 of the Indian Income Tax Act, 1961, defines the index as notified by the government every year. Cost Inflation Index is a measure of inflation, used to   About capital gains in India and it's types. Calculation of tax is dependent upon the type of capital gain. Indexed cost of acquisition = cost of acquisition x cost inflation index of the year of transfer/cost inflation index of the year of acquisition. 27 Jul 2019 There are five such categories of Income Head under which the income earned by the people of India are classified. Income from Salary Income  25 Jun 2019 A capital gains tax is a tax on capital gains incurred by individuals and corporations from the sale of certain types of assets, including stocks,  28 Jun 2019 You can use the indexation method to calculate the capital gain on an asset you a capital gains tax (CGT) event happened to an asset you acquired can only index the elements of your cost base up to 30 September 1999.

The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts.

Section 54EC: Capital Gains Bonds issued by NHAI (National Highways Authority of India) and REC (Rural Electrification Corporation) are eligible for exemption from capital gains tax up to Rs 50 lakh. They have a tenure of 5 years and carry a fixed interest rate (currently 5.25%). In India, any profit or gain arising from the sale of a capital asset is deemed as capital gains and is charged to tax under the Income-tax Act, 1961. According to the Act, a capital asset is any kind of property held by an individual, such as buildings, lands, bonds, equities, debentures, and jewelry. Long-term capital gain arises when the duration between the purchase and sale of a property is more than 24 months. The amount of capital gain calculated by following the given below method is subject to a flat rate of 20% capital gains tax. Some people may assume that the capital gain on the sale of this property would be 105 lakh (selling price - purchase price). This works out to a 70 lakh. Actually the calculation above is not correct. While deducting the purchase price of 35 Lakh, from the sale price of 105 Lakh, Revised CII numbers: You will need these to calculate capital gains for FY17-18 and onward Cost inflation index numbers are used for calculating inflation-indexed purchase price while calculating capital gains on any asset held for the long term.

25 Jan 2020 Income Tax Department Cost Inflation Index Back Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India.

Unlike Indian residents TDS (Tax Deducted at Source) has to be paid by NRI’s. it is 30% for short-term capital gain and 20% for long-term capital gain and this is irrespective of tax slab. Section 54EC: Capital Gains Bonds issued by NHAI (National Highways Authority of India) and REC (Rural Electrification Corporation) are eligible for exemption from capital gains tax up to Rs 50 lakh. They have a tenure of 5 years and carry a fixed interest rate (currently 5.25%). In India, any profit or gain arising from the sale of a capital asset is deemed as capital gains and is charged to tax under the Income-tax Act, 1961. According to the Act, a capital asset is any kind of property held by an individual, such as buildings, lands, bonds, equities, debentures, and jewelry. Long-term capital gain arises when the duration between the purchase and sale of a property is more than 24 months. The amount of capital gain calculated by following the given below method is subject to a flat rate of 20% capital gains tax. Some people may assume that the capital gain on the sale of this property would be 105 lakh (selling price - purchase price). This works out to a 70 lakh. Actually the calculation above is not correct. While deducting the purchase price of 35 Lakh, from the sale price of 105 Lakh,

The Central Board of Direct Taxes issues the CII or the Cost Inflation Index However, the capital gains tax is not charged on the difference between the In fact, the NRIs or the Non-Resident Indians cannot take advantage of the indexation.

Section 48 of the Indian Income Tax Act, 1961, defines the index as notified by the government every year. Cost Inflation Index is a measure of inflation, used to calculate long-term capital gains from sale of capital assets. Capital gains is the profit that you make from selling an asset, which can be real estate, jewellery, stock, etc.

Short-Term Capital Gain. Short-term capital gain arises when the duration between the purchase and sale of a property is less than 24 months. The amount of capital gain calculated by the given method is subject to a tax based on income tax slab rates. Calculation of Short Term Capital Gain on the sale of property It is calculated as follows:

Some people may assume that the capital gain on the sale of this property would be 105 lakh (selling price - purchase price). This works out to a 70 lakh. Actually the calculation above is not correct. While deducting the purchase price of 35 Lakh, from the sale price of 105 Lakh, Revised CII numbers: You will need these to calculate capital gains for FY17-18 and onward Cost inflation index numbers are used for calculating inflation-indexed purchase price while calculating capital gains on any asset held for the long term.

14 Dec 2016 Any gains from transfer of capital assets attracts capital gains tax. by the Cost Inflation Index (CII) number of the current year (the year of sale)  6 Mar 2018 Failure to index the purchase price (tax basis) of assets increases the effective tax rate on saving and investment. Less capital is formed,  The Central Board of Direct Taxes issues the CII or the Cost Inflation Index However, the capital gains tax is not charged on the difference between the In fact, the NRIs or the Non-Resident Indians cannot take advantage of the indexation. [Capital Gain of an NRI could be Completely Exempt from Income Tax] The notified Cost Inflation Index for the financial years 1981-82 to 2010- 2011 is 100 transfer of a capital asset being shares in or debentures of Indian companies shall  Indexation relief will only apply for the period of ownership of the asset up to 31 December 2002 for any disposals made on or after 1 January. 2003. CAPITAL