TaxTMI 
TaxTMI 
Cost of Index for the assessment year 2006-07,2007-2008 and 2008-08
Cost of Index
05 Aug 2008 
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Cost Inflation Index: supplied indices to be applied when computing indexed cost for capital gains reporting.
Adviser supplied Cost Inflation Index numbers for the cited years; the taxpayer described purchase of land in 1995, construction completed in 2008 and a sale in July 2008, and asked whether the asset is short or long term, what proof supports cost of construction, whether a CA certificate is required, what evidence for brokerage is needed, how to compute capital gain, and how to reduce tax liability. (AI Summary)
Adviser supplied Cost Inflation Index numbers for the cited years; the taxpayer described purchase of land in 1995, construction completed in 2008 and a sale in July 2008, and asked whether the asset is short or long term, what proof supports cost of construction, whether a CA certificate is required, what evidence for brokerage is needed, how to compute capital gain, and how to reduce tax liability. (AI Summary)