Cost Inflation Index (CII)
As per provisions of Income Tax Act, for the purpose of Long term capital gains, Indexed cost of acquisition and indexed cost of improvement are deducted from Sale value consideration.
Cost Inflation index in relation to previous year means, such index as the Central Government may, with reference to 75% of average rise in CPI (Consumer Price Index) for urban and non urban employees for immediately preceding previous year to such previous year, by notification in official Gazette, specify in this behalf.
Cost Inflation Index (CII) from FY 1981-82 to FY 2016-17 as notified by Central Government is as under:
| Financial Year | CII | Financial Year | CII |
|---|---|---|---|
| 1981-82 | 100 | 1997-98 | 331 |
| 1982-83 | 109 | 1998-99 | 351 |
| 1983-84 | 116 | 1999-00 | 389 |
| 1984-85 | 125 | 2000-01 | 406 |
| 1985-86 | 133 | 2001-02 | 426 |
| 1986-87 | 140 | 2002-03 | 447 |
| 1987-88 | 150 | 2003-04 | 463 |
| 1988-89 | 161 | 2004-05 | 480 |
| 1989-90 | 172 | 2005-06 | 497 |
| 1990-91 | 182 | 2006-07 | 519 |
| 1991-92 | 199 | 2007-08 | 551 |
| 1992-93 | 223 | 2008-09 | 582 |
| 1993-94 | 244 | 2009-10 | 632 |
| 1994-95 | 259 | 2010-11 | 711 |
| 1995-96 | 281 | 2011-12 | 785 |
| 1996-97 | 305 | 2012-13 | 852 |
| 2013-14 | 939 | 2014-15 | 1024 |
| 2015-16 | 1081 | 2016-17 | 1125 |
You can use search box provided on top right side to get Cost Inflation Index- CII of particular year.
(Post republished with CII of FY 2016-17)
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1.I purchased an apartment for Rs.10 lakhs in 1994-95 period. I do note that the indexed cost in 2016-17 period would be 10,00,000×1125/259 = Rs.43.436L. Am I correct pl?
2. I had done some woodwork & other items during 1995-96. Can I add the indexed cost from 1995-96 to 2016-17 to this. Shall appreciate your confirmation or otherwise.
3. I have done some additional work/replacement work during course of last 22 years-(i) Rs. 60,000 during 2004-05 for toilet redoing/refurbishing, (ii)Rs. 50,000 for changing flooring in hall during 2014-15. Can the cost these two items be added after indexing from respective years.
4.I have done periodical anti-termite treatments for whole flat. Are these cost can be added to indexed cost?
5. How about painting cost incurred three times during last 21 years.?
I would be grateful for your guidance on these points.