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Cost of acquisition

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Himanshu Agarwal

Proprietor

186 Points Posted on 17 March 2021

Dear All,
In case of property inherited through Will
in FY 2008 AND the Original purchase of property is before 2001
so for calculating Cost of Acquisition,whether CII of FY 2008 i.e when it was inherited or CII OF 2001.
what would we take?

Replies (4)

Quick Summary

This discussion clarifies how to calculate the cost of acquisition for inherited property. When a property is inherited in FY 2008 but was originally purchased before 2001, the Cost Inflation Index (CII) of 2001 should be used. This is because 2001 is considered the base year for such calculations.