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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        Bills

        Clause 50 - Indexed cost of acquisition

        Direct Taxes Code Bill, 2009
        Chapter III - Part-E
        COMPUTATION OF TOTAL INCOME - E. - Capital gains

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        Indexed cost of acquisition adjusts historical cost by Cost Inflation Index to compute taxable capital gains. The law sets an indexation-based adjustment for capital gains where the indexed cost of acquisition equals A x B / C (A = cost of acquisition, B = Cost Inflation Index in the year of transfer, C = Cost Inflation Index for the year following acquisition or for the year beginning 1 April 2000, whichever is later). The indexed cost of improvement is computed by the same formula with A as the cost of improvement and C tied to the year following the improvement or the 1 April 2000 base-year floor.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Indexed cost of acquisition adjusts historical cost by Cost Inflation Index to compute taxable capital gains.

                                The law sets an indexation-based adjustment for capital gains where the indexed cost of acquisition equals A x B / C (A = cost of acquisition, B = Cost Inflation Index in the year of transfer, C = Cost Inflation Index for the year following acquisition or for the year beginning 1 April 2000, whichever is later). The indexed cost of improvement is computed by the same formula with A as the cost of improvement and C tied to the year following the improvement or the 1 April 2000 base-year floor.


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