ITR filing: Cost inflation index for FY 2021-22 used in LTCG calculations

How CII is used for LTCG calculation

Using the formula mentioned above, the indexed cost comes out to be ](317/122)*20,00,000] Rs 51,96,721. The long-term capital gains will be [Rs 85 lakh less of Rs 51,96,721] Rs 33,03,279. The tax on this long-term capital gains will be levied at the rate of 20%. The tax amount will be Rs 6,60,656.

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