CAPITAL GAINS

( Sec 45, 48-50,

54)
 1
Basis of Charge (Section 45(1))
Normally, only revenue receipts are taxed.
As an exception to this normal rule, gains arising from sale
of capital assets are subjected to tax.
Capital Gains means any profits arising from the
TRANSFER of a Capital Asset.
Such gains are taxed in the previous year in which the
transfer takes place.
 “
Income is charged under the head “ Capital
Gains” if the following conditions are satisfied :

1) There should be a ‘CAPITAL ASSET’.

2) There should be a ‘TRANSFER’ of such
capital asset.
3) Such transfer should take place in the ‘
PREVIOUS YEAR’.
4) There should be PROFIT OR GAINS.
CAPITAL ASSET [ SEC 2(14)]
 ‘Capital Asset’ means property of any kind, movable or immovable,
tangible or intangible. Besides, it includes the following :

 1. Property of any kind held by the assessee

 ( whether or not connected with his business/profession)
 2. Any rights in or in relation to an Indian Company, including rights
of management or control.

 Thus, Capital Assets includes tangible as well as intangible
assets such as Land, buildings, vehicles, goodwill, plant and
machinery, licences, patents, securities etc.
NEGATIVE LIST
 The following assets are excluded from the definition of
‘capital assets’
 1) Stock in Trade ( taxed as Income from Business)
 2) Personal Effects of assessee i.e. Movable assets like car,
furniture, garments etc
 3) Rural Agricultural Land in India
 4) Gold bonds & Special Bearer Bonds issued by Central
Govt.
 5) Gold Deposit Bonds
NEGATIVE LIST
 Note : Personal Effects
 Any movable property ( including wearing apparel and
furniture) held for personal use of the owner or for the use of
any member of his family dependent upon him, is NOT a
capital asset as per Income Tax.

 However, the following are not “personal effects” i.e. the

following ARE capital assets even if these are for personal
use :
 Jewellery, drawings, paintings, sculptures, any work of art,
precious stones etc
WHAT IS TRANSFER OF CAPITAL ASSET [ Sec 2(47)]

Definition of Transfer:
 Transfer includes –
 1) Sale,Exchange or Relinquishment of the asset
 2) Extinguishment of any rights in the asset
 3)Compulsory Acquisition of an Asset
 4)Conversion of Capital Asset into Stock in trade
 5) Maturity or redemption of Zero Coupon Bond
CERATAIN TRANSACTIONS NOT INCLUDED IN TRANSFER

The following transactionS are NOT regarded as transfers i.e. there no

capital gains in the following cases :

1. Transfer of Capital Asset by way of Gift, Will, Inheritance or an

Irrevocable trust
2. Conversion of Self-Acquired Property of an Individual member
into Common property of HUF.
3. Transfer of Capital Asset by HUF to its individual members at
the time of partition
4. Transfer of Capital Asset by amalgamting company to
amalgfamated company in the scheme of amalgamation
CERATAIN TRANSACTIONS NOT INCLUDED IN TRANSFER

5. Transfer between a Holding Company and its 100% Subsidiary

Company

6. Distribution of assets in kind by a company to its shareholders on

its liquidation

7. Transfer by way of conversion of preference shares into equity

shares by a company

ETC…
TRANSFER OF ASSET WITHIN PREVIOUS YEAR

This is important because of two things :

1) Date of Transfer determines the ‘Previous
year’ in which gains are taxed
 Capital gains is taxed in the year in which the
transfer takes place, even if the year in which
the consideration is actually received is
different. The year in which consideration is
received is irrelevant.
2) Date of Transfer determines whether the gains
are short term or long term
Capital assets are divided into two types – Short
term capital asset and long term capital asset.

Generally, a short term capital asset means an

asset held by the assessee for less than 36
months. Thus, if a capital asset is held by the
assessee for more than 36 months, then it is
known as “long-term capital asset’.
Exceptions :
A. However, in the following cases, the asset is
considered to be short term if held for less than 12
months :
1) Shares – Equity or preference, listed in a
recognised stock exchange in India
2) Securities ( like debentures, govt. Seurities)
listed in a recognised stock exchange in India
3) Units of Unit Trust of India
4) Units of mutual funds
5) Zero Coupon Bonds
B.
With effect from 1.4.2017, a share of a company ( not being
listed in a recognised stock exchange) would be treated as a
short term capital asset if it is held by the assessee for less
than 24 months.

Note : Month for this purpose should be ascertained on date to date basis.
C.
With effect from A.Y. 2018-19, an immovable property, being
land and building or both, would be treated as a short term
capital asset if it is held by the assessee for less than 24
months
 SUMMARY
Short Term Capital Asset
Security listed in a Recognised Stock
Exchange ( Equity Shares, Preference
Short Term Capital Asset if held for Shares, debentures, bonds, derivatives
12 months etc)
Units of Equity Oriented Fund / Units of
UTI
Zero Coupon Bonds
Short Term Capital Asset if held for Unlisted Equity or Preference Shares
24 months Immovable Property ( being Land or
Building or both)
Short Term Capital Asset if held for Unit of Debt Oriented Fund
36 months Other Capital Assets
LONG TERM CAPITAL ASSET
An asset other than a short term capital asset is regarded
as a long term capital asset.

NOTE :
An asset held for exactly 36,24 or 12 months is a short
term capital asset.

Thus, If the Asset transferred is a short term capital asset,

capital gain will be Short-Term Capital Gain.
Conversely, Long-Term Capital Gain arises on transfer of
a long term capital asset .
COMPUTATION OF CAPITAL GAINS
COMPUTATION OF SHORT TERM CAPITAL GAINS :
Particulars Amt
Full Value of Consideration ( FVOC) xx
Less: Transfer expenses (xx)
xx
Less : Cost of Acquisition ( COA) (xx)
Less : Cost of Improvement ( COI) (xx)
xx
Less : Exemption u/s 54B, 54D, 54G, 54GA (xx)
Short Term Capital Gains xx
 COMPUTATION OF CAPITAL GAINS
COMPUTATION OF LONG TERM CAPITAL GAINS :
Particulars Amt
Full Value of Consideration ( FVOC) xx
Less: Transfer expenses (xx)
xx
Less : INDEXED Cost of Acquisition ( ICOA) (xx)
Less : INDEXED Cost of Improvement ( ICOI) (xx)
xx
Less : Exemption u/s 54, 54B, 54D, 54EC, 54F, 54G, (xx)
54GA, 54GB
Long Term Capital Gains xx
 FULL VALUE OF CONSIDERATION ( SECTION 48)

Consideration means the value received or receivable for

the transfer.
The value may be money or money’s worth i.e. in cash or
kind
If it is received in kind, then Fair Market Value of such asset
is taken as the consideration.
It makes no difference whether (or not) the Full value of
Consideration is RECEIVED during the previous year. Even
if the consideration is not received, capital gain is taxable in
the year of transfer, i.e. capital gains are taxed on accrual
basis and not cash basis.
 FULL VALUE OF CONSIDERATION ( SECTION 48)

NOTE :
1. Adequacy of Consideration
This is usually not a relevant factor for the purpse of determiming the full
value of consideration.
However, in the case of transfer of land or building, if sale
consideration is less than the stamp duty value, then in that case the
stamp duty value is taken as the Full Value of Consideration.

2. If Consideration is not determinable

In case the consideraion for the transfer is not determinable, then for the
purpose of computing capital gains, the fair market value of the asset is
used as the Full Value of Consideration.
TRANSFER EXPENSES

Expenditure incurred wholly and exclusively in

connection with the transfer of capital asset is deductible
from the Full Value of Consideration.

Examples of transfer expenses : brokerage, commission,

cost of stamp, registration fees, travelling expenses
incurred in connection with transfer etc.
 COST OF ACQUISITION
 Cost of Acquisition of an asset is the value for which it was acquired by
the assessee.
 Expenses of capital nature for completing or acquiring the title to the
property are includible in the Cost of Acquisition.

COST OF IMPROVEMENT
 Cost of Improvement is capital expenditure incurred by an assessee in
making any additions / improvement to the capital asset.
 Thus, any expenditure incurred to increase the value of the capital asset
is treated as Cost of Improvement.
Eg. Construction of additional floors in a house property
Note : Cost of Improvement incurred before April 1, 2001 is never taken
into consideration.
 INDEXED COST
 Indexed cost is relevant only for Long Term Capital Gains.
 Indexed Cost means Original Cost as adjusted for inflation shown by
a Price Index.
 Indexed Cost is calculated with the help of Cost Inflation Index ( CII).
 CII for P.Y. 2001-02 is 100.
 CII for P.Y. 2018-18 is 280

NOTE : Indexation is not applicable in the following cases:

1) Short Term assets
2) Transfer of shares or debentures of an Indian company by a Non-
Resident
3) Transfer of bond or debenture ( other than Capital Index bonds)
 CALCULATION OF INDEXED COST

 Indexed Cost of Acquisition =

 Cost of Acquisition x CII for Year of Transfer
 CII for Year of Purchase or 2001-02,
 whichever is later

 Indexed Cost of Improvement =

 Cost of Improvement x CII for Year of Transfer
 CII for Year of Improvement
 CAPITAL GAINS IN SPECIAL CASES
I ] COST TO PREVIOUS OWNER [Section 49(1)]

If a person has acquired a capital asset in the circumstances

specified under Section 49(1), then to calculate capital gain, the
COST TO THE PREVIOUS OWNER is taken as the Cost of
Acquisition.
i.e. In some cases, the assessee might not have acquired the
property himself, but might have become owner of the property
under certain circumstances. In such cases, COST TO THE
PREVIOUS OWNER will be taken as Cost of Acquisition for the
assessee. ( Normally his actual cost of acquiring it would be Nil).
I ] COST TO PREVIOUS OWNER [Section 49(1)]

Following are some examples of such circumstances :

1.Transfer by way of Will, Inheritance or Gift
2.Conversion of self – acquired property of an individual member
into common property of HUF
3.Transfer of Capital asset by HUF to its individual members at
the time of partition
4.Transfer between a Holding Company and its 100% subsidiary
companies
I ] COST TO PREVIOUS OWNER [Section 49(1)]

Note :
1. Period of Holding
In order to find out whether the capital asset is short-term or long term
in the above cases, the period of holding of the previous owner shall
be taken into consideration.

2. Indexation
The benefit of indexation will be available from the year in which the
asset was first held by the previous owner.
The Indexed Cost of Acquisition has to be computed with reference to
the year in which the previous owner acquired it and NOT the year in
which the current assessee became the owner of the asset.
II] COST OF ACQUISITION BEING THE FAIR MARKET VALUE AS
ON 1.4.2001
 OPTION AVAILABLE FOR COST OF ACQUISITION :
 In the following cases, the assessee has an option to choose
either ACTUAL COST or the FAIR MARKET VALUE of the
asset as on April 1, 2001 as the Cost of Acquisition :
 1)Where the capital asset became the property of the
assessee before April 1, 2001
 2) Under Section 49(1), the capital asset became the property
of the previous owner before April 1, 2001

NOTE : It is beneficial for the assessee to take Actual Cost or Fair

Market Value, whichever is HIGHER
FAIR MARKET VALUE AS ON 1.4.2001

 OPTION NOT AVAILABLE :

 This option is not available on
 i) Depreciable assets
 Ii) Intangible assets ( eg. Goodwill, trademarks etc)
 CAPITAL GAINS IN CERTAIN SPECIAL CASES
III] CAPITAL GAINS IN THE CASE OF DEPRECIABLE ASSETS

Capital gains on depreciable assets is calculated as per Block of Assets

method.
Capital Gains is computed only in the following cases :
1) When the block is existing, but with a negative amount
2) When the block of assets ceases to exist

ALWAYS SHORT TERM : On transfer of depreciable assets, gain ( or

loss) is ALWAYS Short Term Capital Gain ( Or Loss).
It can NEVER be treated as Long Term Capital Gain ( Or Loss).
 Block of
Asset

Existing Not Existing

(With –ve Amt) (With +ve Amt) (With –ve Amt)

(With +ve Amt)
Short Term Short Term Short Term
Depreciation Capital Loss Capital Gains
Capital Gains
Example :

X ltd. owns two plants –A and B ( Dep Rate – 15%, WDV of the
Block as on 1.4.2018 : Rs. 8,16,000). On June 1, 2018, it
purchases Plant C (dep rate : 15%) for Rs. 1,00,000. On
November 15, 2018, it sells Plant A for Rs. 1,30,000. Plant A was
purchased for Rs. 45,000 in 2012. Find out the amount of
depreciation and capital gains for A.Y. 2019-20.
 Particulars Amt ( Rs.) Assets in
block
Opening WDV 8,16,000 A&B
Add : Purchase of Asset C 1,00,000 C
9,16,000 A,B & C
Less : Sale of Asset ( Sales price) (1,30,000) (A)
Closing WDV 7,86,000 B&C

Depreciation = 7,86,000 x 15% = Rs. 1,17,900

Capital Gain on Sale of Asset A – No Capital Gain will be calculated
since the block is still existing
 EXEMPTIONS
UNDER SECTION
54, 54F
 EXEMPTION UNDER SECTION 54 : EXEMPTION FOR TRANSFER
OF RESIDENTIAL HOUSE PROPERTY
LONG TERM CAPITAL GAINS on transfer of a residential house shall be
exempt if the amount of capital gains is utilized for
PURCHASE/CONSTRUCTION of ONE NEW residential house
property.

ELIGIBILE ASSESSEES: Individuals and HUF. Thus, firms, LLP’s and

companies cannot utilize the benefits of this section.

TIME LIMIT :
 The new house should be PURCHASED within 1 year before the date
of transfer OR within 2 years after the date of transfer,
 OR a new house can be CONSTRUCTED within 3 years after the date
of transfer.
 EXEMPTION UNDER SECTION 54 : EXEMPTION FOR
TRANSFER OF RESIDENTIAL HOUSE PROPERTY
AMOUNT OF EXEMPTION:
 1) Amount of Long Term Capital Gains
 2) Cost of New House/Amt Invested in Capital Gains Account Scheme
 WHICHEVER IS LESS

CAPITAL GAINS ACCOUNT SCHEME, 1988:

 If the capital gains is not utilised for purchase/construction of the new
house is not acquired up to the due date of filing return for the current
A.Y., then the assessee has the option to deposit a desired amount in a
Special Account under the Capital Gains Account Scheme, 1988.
 EXEMPTION UNDER SECTION 54 : EXEMPTION FOR
TRANSFER OF RESIDENTIAL HOUSE PROPERTY
CAPITAL GAINS ACCOUNT SCHEME, 1988:
 The deposited amount should be utilized for the acquisition of the
new house within the specified time limit.
 If the deposited amount is not utilised for new house, then the
exemption allowed earlier will be withdrawn.

LOCK-IN-PERIOD:
The new house should not be sold within 3 years of its
purchase/construction.
If it is sold within 3 years, then the exemption allowed earlier shall be
withdrawn
EXEMPTION UNDER SECTION 54 : EXEMPTION FOR TRANSFER OF RESIDENTIAL
HOUSE PROPERTY

 IMPORTANT POINTS :
 With effect from A.Y. 2015-16, exemption can be claimed only in
respect of ONE residential house property purchased/constructed in
India.
 If more than one house is purchased/constructed, then exemption
under Section 54 will be available in respect of ONE house ONLY.
 No exemption can be claimed in respect of house purchased outside
India.
However, Interim Budget 2019 has amended Section 54 to increase the
benefit from investment in one residential house to two residential houses
for a taxpayer having capital gains up to Rs. 2 crores.
⊡This benefit can be availed once in a life time. ( Applicable from P.Y.
2019-20 onwards)
 EXEMPTION UNDER SECTION 54 : EXEMPTION FOR
TRANSFER OF RESIDENTIAL HOUSE PROPERTY
 Example 1 :
Q. ABC HUF purchased a residential house in June, 2017 and sold the
same in June, 2018 for Rs. 17,00,000. Capital gain arising on sale of house
amounted to Rs. 1,50,000. Can the HUF claim the benefit of section 54 by
purchasing/constructing another house from the capital gain of Rs.
1,50,000?

Solution : In this case the house property is sold after holding it for a period
of less than 24 months and, hence, it is a short-term capital asset. The benefit
of section 54 is not available in respect of a short-term capital asset and,
hence, in this case ABC HUF cannot claim the benefit of section 54.
 EXEMPTION UNDER SECTION 54 : EXEMPTION FOR
TRANSFER OF RESIDENTIAL HOUSE PROPERTY
 Example 2 :
Q. Mr. K purchased a residential house in October, 2013 and sold the same on
19th June, 2018 for Rs. 17,00,000. Capital gain arising on sale of house
amounted to Rs. 1,50,000. Out of the sale proceeds of old house, he purchased
another residential house for Rs. 1,20,000. This house was purchased in
September, 2018. What will be the amount of exemption under section 54 which
can be claimed by Mr. K?

Solution : The exemption in this case will be lower of the following amount :
Amount of capital gain, i.e., Rs. 1,50,000.
Amount of investment in new house, i.e., Rs. 1,20,000
Thus, exemption will be Rs. 1,20,000. Taxable capital gain will come to Rs.
30,000 (Rs. 1,50,000 less exemption under section 54 of Rs. 1,20,000).
 EXEMPTION UNDER SECTION 54 : EXEMPTION FOR
TRANSFER OF RESIDENTIAL HOUSE PROPERTY
 Example 3 :
Q. Mr. Z is a salaried employee. He had purchased a residential house in
April, 2014 and sold the same on 16th May, 2018 for Rs. 17,00,000.
Capital gain arising on sale of house amounted to Rs. 2,00,000. He
wants to claim exemption under section 54 by purchasing another
residential house. By what time he should purchase or construct another
residential house?
  Example 3 :
⊡Solution : To claim exemption under section 54, the taxpayer should purchase
another house within a period of one year before or two years after the date of
transfer of old house. In this case, the old house is transferred on 16th May, 2018 ,
hence, he has to purchase another house within a period of 2 years from 16th May,
2018 ; alternatively he can construct another house within a period of 3 years from
16th May, 2018 .
⊡The old house is transferred in the year 2018-19 and the due date of filing the
return of income of the year 2018-19 is 31st July, 2019. If Mr. Z cannot
purchase/construct another house by 31st July, 2019, then he has to deposit Rs.
2,00,000 in Capital Gains Account Scheme. By depositing Rs. 2,00,000 in the
Capital Gains Account Scheme he can claim exemption of Rs. 2,00,000 under
section 54. However, merely depositing the sum in the Capital Gains Account
Scheme would not be sufficient; after deposit in the scheme he has to utilise this
fund to purchase/construct the house within the specified period of 2 years/3 years,
as the case may be.
EXEMPTION UNDER SECTION 54F : EXEMPTION FOR TRANSFER
OF ANY CAPITAL ASSET (OTHER THAN RESIDENTIAL HOUSE
PROPERTY)

 LONG TERM CAPITAL GAINS on transfer of any capital asset

(other than a residential house property) shall be exempt if the
amount of net consideration* is utilized for
PURCHASE/CONSTRUCTION of a ONE NEW residential house
property.

 This exemption is available provided that the assessee does NOT own
more than one residential house property on the date of transfer of the
above asset.
* Net Consideration = FVOC-Transfer Expenses
EXEMPTION UNDER SECTION 54F : EXEMPTION FOR TRANSFER
OF ANY CAPITAL ASSET (OTHER THAN RESIDENTIAL HOUSE
PROPERTY)

ELIGIBILE ASSESSEES: Individuals and HUF. Thus, firms, LLP’s and

companies cannot utilize the benefits of this section.

TIME LIMIT :
 The new house should be PURCHASED within 1 year before the
date of transfer OR within 2 years after the date of transfer
 Or, a new house can be CONSTRUCTED within 3 years after the
date of transfer.
 EXEMPTION UNDER SECTION 54F : EXEMPTION FOR TRANSFER
OF ANY CAPITAL ASSET (OTHER THAN RESIDENTIAL HOUSE
PROPERTY)
AMOUNT OF EXEMPTION:
 If the Net Consideration is fully invested, then the Capital Gains shall be
fully exempt

 If the Net Consideration is partly invested, then the Capital Gains shall be
partly exempt as follows i.e. proportionately exempt

Amt of Exemption = Capital Gains x Amt Invested / Net Consideration

CAPITAL GAINS ACCOUNT SCHEME, 1988:
 If the capital gains is not utilised for purchase/construction of the new
house is not acquired up to the due date of filing return for the current
A.Y., then the assessee has the option to deposit a desired amount in
a Special Account under the Capital Gains Account Scheme, 1988.
 The deposited amount should be utilized for the acquisition of the
new house within the specified time limit.
 If the deposited amount is not utilised for new house, then the
exemption allowed earlier will be withdrawn.

LOCK-IN-PERIOD:
The new house should not be sold within 3 years of its
purchase/construction.
If it is sold within 3 years, then the exemption allowed earlier shall be
withdrawn
TAX RATES ON
CAPITAL GAINS
 Capital
Assets

Listed Equity Other Capital

Shares and Assets
units of EOF

STCG taxable at LTCG

STCG LTCG exempt upto Slab/Normal Taxable @
Taxable @ Rs. 1,00,000. Rates 20%/10%*
Taxable thereafter
15% u/s 111A @10% [Sec 112A]

*20% LTCG – With Indexation

10% LTCG – Without Indexation, WHICHEVER IS LOWER
 EXEMPTION FOR LONG TERM CAPITAL GAIN ON
SHARES. [ SECTION 10(38)]
 Long-term capital gains arising on account of sale of
equity shares listed in a recognised stock exchange
was fully exempt under section 10(38).

 However, this exemption under Section 10(38) has been

withdrawn by the Finance Act, 2018 w.e.f. Assessment
Year 2019-20 and a new Section 112A is introduced in the
Income-tax Act.
Section 112A - Long-term capital gains arising from sale of listed
securities [with effect from Assessment Year 2019-20]
Section 112A taxes LTCG on sale of
a. Equity shares or
b. Units of equity oriented funds
at a concessional rate of 10% on the gains in excess of Rs.
1 lakh without providing the benefits of indexation.

The provisions of this section will apply from the Financial

Year (FY) 2018-19 i.e. AY 2019-20. This means, any transfer
carried out after 1 April 2018, resulting in LTCG in excess of
Rs 1 lakh will attract tax at the rate of 10 percent.
Applicability of Section 112A
 Section 112A shall be applicable from 1st April, 2018
(A.Y. 2019-2020);
 Section 112A shall be applicable only in case
where Securities Transaction Tax (popularly known as
STT) has been paid at the time of transfer, and also on
an acquisition in case of equity share / units of equity
oriented funds.
Grandfathering of Investments made upto 31 January 2018

The budget proposed to grandfather investments made on or

before 31 January 2018.

What is the concept of Grandfathering?

 When a new clause or policy is added to a law, certain
persons may be relieved from complying with the new
clause. This is called “grandfathering”.
 “Grandfathered” persons enjoy the right to avail concession
because they have made their decisions under the old
law.
Grandfathering of Investments made upto 31 January 2018

The concept of grandfathering in the case of LTCG on sale of equity

investments works as follows :
The following method is to be used for determining the Cost of Acquisition
(“COA”) of such investments.
Revised COA shall be deemed to be the higher of-
 The Actual COA of such investments; and
 The lower of-
 Fair Market Value (‘FMV’) as on January 31, 2018 ; and
 Full Value of Consideration of transfer of the capital asset
i.e.the Sales Price

Capital Gain/Loss = Sale Price – Revised Cost of Acquisition on 31.1.2018

Example 1 :
Mr X bought equity shares on 15-Dec-2016 for Rs. 5,00,000. FMV of the shares was
Rs. 5,20,000 as on 31-Jan-18. He sold the shares on 10-May-2018 for Rs. 6,00,000.
What will be the long-term capital gain/ loss?
Solution :
Revised Cost of Acquisition (COA)
is Higher of –
1) Original COA i.e. Rs. 5,00,000, and
2) Lower of –
FMV on 31.1.18 i.e. Rs. 5,20,000, and
Sale Price i.e. Rs. 6,00,000
Hence, Revised COA = Higher of (Rs. 5,00,000 or Rs. 5,20,000) = Rs. 5,20,000

Capital Gain/ (Loss) = Sale Price – Revised Cost of Acquisition

= 6,00,000 – 5,20,000 = Rs. 80,000
Since long-term capital gains doesn’t exceed Rs. 1,00,000, nothing is taxable in
hands of Mr. X.
 SUMMARY
Sr. Scenario Tax Implications
No.
1 Purchase and sale before 31/1/2018 Exempt under Section 10(38)

2 Purchase before 31/1/2018 Exempt under Section 10(38)

Sale after 31/1/2018 but before

1/4/2018
3 Purchase before 31/1/2018 LTCG taxable
Sale on or after 1/4/2018 Capital Gains computed using
Grandfathering (Section 112A)

4 Purchase after 31/1/2018 LTCG taxable under Section 112A

Sale on or after 1/4/2018
COST INFLATION INDEX (CII) ( BASE YEAR 1.4.2001) ( FINANCE BILL 2017)

Year CII Year CII

2001-02 100 2010-11 167
2002-03 105 2011-12 184
2003-04 109 2012-13 200
2004-05 113 2013-14 220
2005-06 117 2014-15 240
2006-07 122 2015-16 254
2007-08 129 2016-17 264
2008-09 137 2017-18 272
2009-10 148 2018-19 280