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Clause 50 - Indexed cost of acquisition - Direct Taxes Code Bill, 2009Extract Indexed cost of acquisition 50. (1) The indexed cost of acquisition of an investment asset shall be the amount determined in accordance with the formula A X B/ C Where A = the cost of acquisition of the asset; B = the Cost Inflation Index for the financial year in which the asset is transferred; C = the Cost Inflation Index for the financial year immediately following the financial year in which the asset was acquired by the person or for the financial year beginning on the first day of April 2000, whichever is later. 2) The indexed cost of improvement of an investment asset shall be the amount determined in accordance with the formula - A X B/ C Where A = the cost of improvement; B = the Cost Inflation Index for the financial year in which the asset is transferred; C = the Cost Inflation Index for the financial year immediately following the financial year in which the improvement to the asset took place or for the financial year beginning on the first day of April 2000, whichever is later.
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