25 March 2016
Dear Sir, Suppose a property was purchased in 1975 for Rs. 15200/- and sold in the year of 2015. What is the formula to calculate indexed cost of acquisiton on Rs. 15200/-
25 March 2016
Dear To calculate the indexed cost you can take the fair value of the property as on 01/04/1981, if available otherwise 15200/100*1081 = Rs 164312/- Similarly you can index the cost of improvement made during any year between 1981 to 2015.
CAclubindia
