Long term capital gain means capital gain arising from transfer of long term capital asset. Indexation benefit is available for long term capital gains.
Long term capital gain is computed as under
| Long Term Capital Gain/Loss | Amount |
| Full value of consideration Less: Expenses incurred wholly and exclusively in connection with such transfer Net ConsiderationLess: Indexed Cost of acquisition Less: Indexed Cost of improvement Long Term Capital Gains Less: Exemption under section 54, 54B, 54D, 54EC, 54F, 54G, 54GA, 54GB | xxx xxx xxxxxx xxxxxx xxx |
| Taxable Long Term Capital Gain (Loss if negative) | XXX |
Securities Transaction Tax (STT) is not allowed as deduction of expenses while calculating capital gain whether short term or long term.
Indexed Cost of Acquisition = (Cost of Acquisition x CII of year of transfer) / CII of year of acquisition of asset or CII for year 1981 whichever is later.
Indexed Cost of Improvement = Cost of Improvement x CII of year of transfer) / CII of year in which improvement took place
Cost Inflation Index (CII) Table
Financial Year
| Cost Inflation Index | Financial Year |
Cost Inflation Index
|
1981-82
| 100 | 1998-99 | 351 |
| 1982-83 | 109 | 1999-00 |
389
|
1983-84
| 116 | 2000-01 | 406 |
| 1984-85 | 125 | 2001-02 |
426
|
1985-86
| 133 | 2002-03 | 447 |
| 1986-87 | 140 | 2003-04 |
463
|
1987-88
| 150 | 2004-05 | 480 |
| 1988-89 | 161 | 2005-06 |
497
|
1989-90
| 172 | 2006-07 | 519 |
| 1990-91 | 182 | 2007-08 |
551
|
1991-92
| 199 | 2008-09 | 582 |
| 1992-93 | 223 | 2009-10 |
632
|
1993-94
| 244 | 2010-11 | 711 |
1994-95
| 259 | 2011-12 |
785
|
1995-96
| 281 | 2012-13 | 852 |
| 1996-97 | 305 | 2013-14 |
939
|
| 1997-98 | 331 | 2014-15 |
1024
|
| 2015-16 | 1081 |
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