Meaning of Indexed cost of Acquisition & Improvement - (New) Section 72(8) / (old) Section 48

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....n 1st April, 2001, whichever is later; Formula  As per Clause (c) of section 72(8) "Indexed Cost of any improvement" means: an amount which bears to the cost of improvement, the same proportion as Cost Inflation Index for the year in which the asset is transferred bears to the Cost Inflation Index for the year in which the improvement to the asset took place; Formula Meaning of  "Cost Inflation Index", in relation to a tax year, means such Index as the Central Government may, having regard to 75% of average rise in the Consumer Price Index (urban) for the immediately preceding tax year to such tax year, by notification, specify, in this behalf; Grandfathering Provision for Land and Building â....

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.... Market Linked Debenture [Applicable from the A.Y. 2024-25]   Undertaking/ division transferred by way of Slump Sale Any person Units purchased in foreign currency as given in Section 208 A FII has to be assessed with regard to capital gain/loss under section 115AD and is not entitled to opt out provision of the said section and the claim to be assessed under section 48, read with section 112 with Indexation provisions in the case of assessment resulting into capital loss. [ Advantage Advisors INC. Versus Deputy Director of Income-tax, (IT) -1(1), Mumbai 2009 (7) TMI 909 - ITAT MUMBAI ] Offshore fund GDR purchased in foreign currency (Section 209) Non-resident GDR purchase....

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....r in which the asset is transferred bears to the Cost Inflation Index for the first year in which the asset was held by the assessee or for the year begin­ning on the 1st day of April, 1981, whichever is later; Formula As per Clause (iv) of the Explanation of section 48 "Indexed Cost of any improvement" means: an amount which bears to the cost of improvement the same proportion as Cost Inflation Index for the year in which the asset is transferred bears to the Cost Inflation Index for the year in which the improvement to the asset took place; Formula Meaning of  "Cost Inflation Index", in relation to a previous year, means such Index as the Central Government may, having regard to seventy-five pe....

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....rred by way of Slump Sale Any person Units purchased in foreign currency (Section 115AB) Offshore fund GDR purchased in foreign currency (Section 115AC) Non-resident GDR purchased in foreign currency (Section 115ACA) Resident Individual Transfer of securities  by Foreign Institutional Investors (Section 115AD) Foreign Institutional Investors (FII) Long-term capital gains on certain land or building transfers acquired on or after 23 July 2024 Any person Important Case Law • Bombay HC held that when computing capital gains on transfer of gifted assets, indexed cost of acquisition must be calculated from the year the previous owner first held the asset, not from when the ....