For the Financial Year 2024-25, Non-Resident Indians (NRIs) can no longer claim indexed cost for their property after July 23, 2024. However, the cost of improvement can still be claimed, though without indexation. This applies even if the property was gifted by parents before 2001.
23 March 2025
Sirs. FY 2024-25. NRI not allowed for indexed cost after July 23 2024. Whether cost of improvement allowed to claim. NRI s property was gifted by parents before 2001. Is this property also indexed cost not eligible. Pl advise