Is cii benefit availalble on capital gain??

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2013 Dear all

Land Purchased 2005-2006 @ 2592000

Cost of Improvement 2011-2012 2200000

Cos of Improvment 2012-13 500000

Sold in end of 2012-13 @ 9000000

my question is wether Indexation benefit available on cost of improvment or not

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 July 2013 Yes. long term capital asset indexation of cost of improvement also available. you can take base year as improvement year to arrive the indexation cost

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Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2013 wanted to confirm in this case, wether it is available altough 36 months has not passed for improvment cost since it is done and asset is sold out

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 July 2013 for calculating shorterm or long term you can calculate the 36 months calculation, once the asset is Long term, cost of improvement also an be eligible for indexation

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