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CII required on urgent basis for capital gain

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(Querist)
14 June 2022 what is the CII for the year FY1997-98 and FY 2022-23. A land was purchased in 1997 now is to be sold in FY 2022-23
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CA Puja Sharma

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CA Puja Sharma (Expert)
14 June 2022 If a property is purchased before 01.04.2001 then you have the option to take FMV as on 01.04.2001 and actual cost which is of more benefit to the taxpayer. In that case, you will take CII of 2001-02 which is 100.
The Cost Inflation Index for FY 2021-22 relevant to AY 2022-23 & subsequent years is 317 as announced by CBDT in June 2021.
It is yet to notify for FY 2022-23.
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CA Parul Saxena

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CA Parul Saxena (Querist)
14 June 2022 i want to take cost as was purchased in 1997 so what will be the CII ? will it be 100?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 June 2022 Yes, it's 100 take it.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
16 June 2022 Recently declared, CII for financial year 2022-23 is 331.
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