I purchased a flat in Hyderabad in May 1994. I sold it in May 2019. Which CII should be used to calculate LTCG please.
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Which cii table to use
Replies (5)
The recent one which starts by taking 2001-02 as base year.
But that index applies to the years 2001 onwards. For this base year CII is 100 but for 1994 as per the new table of IT Department, CII is zero. Then the indexed purchase coast for 2019 is infinite. Could I use a CII of 100 (applicable to 2001) to 1994 also?
CII Table updated by Income Tax Department. Old and New Index Values are available.
https://www.incometaxindia.gov.in/Pages/utilities/Cost-Inflation-Index.aspx
CII Table updated by Income Tax Department. Old and New Index Values are available.
https://www.incometaxindia.gov.in/Pages/utilities/Cost-Inflation-Index.aspx
Thank you very much.
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