What is cost inflation index in India?
Cost inflation index calculates the estimated rise in the cost of goods and assets year-by-year as a result of inflation. It is fixed by the central government in its official gazette to measure inflation. Section 48 of the Indian Income Tax Act, 1961, defines the index as notified by the government every year.
What is the cost inflation index?
Cost Inflation Index (CII) is used to estimate the increase in the prices of goods and assets year-by-year due to inflation.
What is the cost inflation index for FY 2000 01?
406
Cost Inflation Index (CII) Applicable for Financial year 2016-17 and preceding years
| Financial Year | Cost Inflation Index (CII) |
|---|---|
| 2002-03 | 447 |
| 2001-02 | 426 |
| 2000-01 | 406 |
| 1999-00 | 389 |
How is CII calculated in India?
Formula for computing indexed cost is (Index for the year of sale/ Index in the year of acquisition) x cost. For example, if a property purchased in 1991-92 for Rs 20 lakh were to be sold in A.Y. 2009 -10 for Rs 80 lakh, indexed cost = (582/199) x 20 = Rs 58.49 lakh.
What is the cost inflation index for 2019-20?
289
NOTIFIED COST INFLATION INDEX UNDER SECTION 48, EXPLANATION (V)
| Sl. No. | Financial Year | Cost Inflation Index |
|---|---|---|
| 16 | 2016-17 | 264 |
| 17 | 2017-18 | 272 |
| 18 | 2018-19 | 280 |
| 19 | 2019-20 | 289 |
What is the cost inflation index for 2018-19?
280
CBDT has notified the Cost Inflation Index (CII) for Financial Year 2018-19 at 280, with new Base Year 2001-02 (cost inflation index=100). Know CII for all years at once place here.
What is the cost inflation index for FY 2019-20?
Cost Inflation Index Chart/ Table with base Year 2001-02 (Applicable for FY 2001-02 to FY 2021-22)
| SI. No. | Financial Year (FY) | Cost Inflation Index (CII) |
|---|---|---|
| 17 | 2017-18 | 272 |
| 18 | 2018-19 | 280 |
| 19 | 2019-20 | 289 |
| 20 | 2020-21 | 301 |
What is FY 2019/20 cost inflation?
How do you calculate the cost inflation index for FY 2019-20?
ICoA = Original cost of acquisition * (CII of the year of sale/CII of year of purchase)
- Cost of acquisition is Rs 2 lakh.
- CII number for purchase year (2014-15) was 240.
- CII during sale year (2019-20) is 289.
What is cost inflation index 2020-21?
301
The Central Board of Direct Taxes (CBDT) notified the cost inflation index (CII) for FY 2021-22 as 317 via a notification dated June 15, 2021. For the previous year, i.e., FY 2020-21, CII was notified as 301.
What is the cost inflation index for FY 2021-22?
The cost inflation index for ay 2021-22 is 301.
What is the cost inflation index for FY 2020-21?
What is the rate of inflation in India?
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. India inflation rate for 2019 was 7.66%, a 2.8% increase from 2018.
How are the CPI inflation rates presented in the table?
The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). Using the tabs you can switch between the 2016 CPI inflation overview and the 2016 HICP inflation overview.
What was the inflation rate in India in 2006?
India Inflation Rate – Historical Data Year Inflation Rate (%) Annual Change 2006 5.80% 1.55% 2005 4.25% 0.48% 2004 3.77% -0.04% 2003 3.81% -0.49%
What years are included in the cost inflation index?
COST INFLATION INDEX Financial Year CII Before 1/4/1981 100 1981-82 100 1982-83 109 1983-84 116 1984-85 125 1985-86 133 1986-87 140 1987-88 150 1988-89 161 1989-90 172 1990-91 182 1991-92 199 1992-93