What is the CII for the year 1981?
Cost Inflation Index As Applicable From Financial Year 1981-82 To Financial Year 2016-17
| FINANCIAL YEAR | COST INFLATION INDEX | Real inflation % of CII Increase allowed / 3 X 4 |
|---|---|---|
| 1981-1982 | 100 | |
| 1982-1983 | 109 | 12% |
| 1983-1984 | 116 | 8.56% |
| 1984-1985 | 125 | 10.34% |
How is property index cost calculated?
Calculate Cost Inflation Index
- Purchased property on August 1, 2004 = Rs. 30 lakhs Sold property on April 1, 2018 = Rs. 85 lakhs.
- Indexed cost of acquisition = Rs. 30 lakhs x 280 / 113 = 74.33 lakh.
- Capital gain = Rs. 85 lakh – Rs. 74.33 lakh = Rs. 10.67 lakhs.
What is share indexation?
Indexation is used to adjust the purchase price of an investment to reflect the effect of inflation on it. A higher purchase price means lesser profits, which effectively means a lower tax. With the help of indexation, you will be able to lower your long-term capital gains, which brings down your taxable income.
What indexation means?
Indexation means adjusting a price, wage, or other value based on the changes in another price or composite indicator of prices. Indexation can be done to adjust for the effects of inflation, cost of living, or input prices over time, or to adjust for different prices and costs in different geographic areas.
What is indexation in property?
Indexation will reduce your overall tax liability by adjusting the purchase price of the underlying asset or investment. You will be able to realise higher gains as you can adjust them against the rate of inflation of the year of purchase and sale.
How do you calculate the cost inflation index for FY 2020 21?
CBDT has notified the ‘Cost Inflation Index (CII)’ for FY 2021-22/ AY 2022-23 at 317 for determining ‘long term capital gains (LTCG)’ under Income Tax….Cost Inflation Index notified by CBDT: FY 2021-22.
| SI. No. | Financial Year (FY) | Cost Inflation Index (CII) |
|---|---|---|
| 18 | 2018-19 | 280 |
| 19 | 2019-20 | 289 |
| 20 | 2020-21 | 301 |
| 21 | 2021-22 | 317 |
How do you find the fair market value of property in 2001?
Another way to find the FMV of a property is by finding out average sale price of a similar properties in the neighbourhood, which were sold in the year 2001.
Is indexation allowed on debentures?
Note: Assessee cannot take benefit of indexation for the Long Term Capital Gain (LTCG) on the sale of Bonds or Debentures. However, the indexation benefit is available on Capital Indexed Bonds (issued by the Government) and Sovereign Gold Bonds (issued by the RBI under the Sovereign Gold Bond Scheme, 2015).
What was the name of the NFL team in 1981?
The 1981 NFL season was the 62nd regular season of the National Football League. The season ended with Super Bowl XVI when the San Francisco 49ers defeated the Cincinnati Bengals 26–21 at the Pontiac Silverdome in Michigan.
When to take fair market value as on 1 April 1981?
Since the property has been acquired by the original owner prior to 1 April 1981, you have an option of taking the actual cost of acquisition (12,000) or the fair market value of the property as on 1 April 1981.
Who was the NFL line judge in 1981?
Tom Dooley, who was assigned Super Bowl XV as line judge at the end of the 1981 season, was promoted to referee to replace Lepore. It is illegal for any player to put adhesive or slippery substances such as the product “stickum” on his body, equipment or uniform.
Who was the Miami Dolphins leading tackler in 1981?
July 1, 1981: Linebacker Rusty Chambers, the Miami Dolphins leading tackler in 1978 and 1979, died in an automobile accident. Baltimore finished ahead of New England in the AFC East based on head-to-head sweep (2–0).