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Indexed Cost of any Improvement - Definition / Legal Terminology - Income TaxExtract Explanation.(iv) -For the purposes of section 48 of the Income tax Act 1961,- Indexed Cost of any Improvement means an amount which bears to the cost of improvement the same proportion as Cost Inflation Index for the year in which the asset is transferred bears to the Cost Inflation Index for the year in which the improvement to the asset took place;
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