Cost of Index

[Hanumanthaiah D.T]

Cost of Index for the assessment year 2006-07,2007-2008 and 2008-08

[DEV KUMAR KOTHARI]

Dear Mr. Hanumanthaiah D.T CII- Please make some efforts- browse the website for notifications u/s 48. This is not a suitable matter for discussion forum- this is my personal view. Any way desired CII are as follows; Fy AY CII 2005-06 2006-07 497 2006-07 2007-08 519 2007-08 2008-09 551

[Hanumanthaiah D.T]

capital gian: A information ( female individual) 1.Site purchased on 1995 for 3 lakhs. 2.constucted in 2008 june 2008. 3.cost of constuction Rs 20,laksh 4. Sold for Rs 36 laksh in july 08.(constructed property) B . Quistion 1. capital asset is short term and long term 2.what proof to be attached for cost of construction for income tax 3. whether CA cirtificate required for filling ROI for cost of construction. 4. any proof requied for paying brokerage and commission for sale. 5. wt will be capital gain. 6.How to save tax

AI Summary

Exploring Capital Gains on Property: Asset Classification, Documentation, CA Certification, Brokerage Proof, and Tax-Saving Strategies A discussion on the cost of index for income tax assessments for the years 2006-2009 was initiated. One participant suggested that the matter was not suitable for the forum and provided the Cost Inflation Index (CII) for the relevant financial years. Another participant shared details of a property transaction involving a site purchased in 1995, construction completed in 2008, and sold for 36 lakhs. They inquired about the classification of the capital asset, required documentation for construction costs, whether a CA certificate is needed for filing, proof for brokerage payments, capital gain calculation, and tax-saving methods.