Calculation on Indexed cost

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2010 Sir,

I booked a plot with initial booking amount of rs 1 lacs in 1996 and then paid balance rs 9 lacs over a period in installments till 2002 & took possesion in 2004. How do I calculate my cost of indexation & which year should I take as year of acquisition to calculate indexed cost.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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13 September 2010 Indexed cost is to be calculated with present year reference.

Cost is to be taken from 1996 to 2002 as & when it was paid.

Then you can calculate the indexed cost for each payment with the present year vis-a-vis the COI of that particular year.

The sum of all of above will be Indexed cost of acquisition.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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13 September 2010 agreed, cost of indexation will be made payment wise.

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