As per Satkarta Seva Association(A transparent Madhwa crowdfunding platform) during the pandemic, it was many families who lived with our accounting money and getting into a critical situation. No friend or relative help as they have seen you at your peak of money wastage!!!
The cost inflation index is a very useful figure while calculating tax liability when we sell debt funds or property. In the long-term tax calculation, we have to increase the cost of acquisition in proportion to the inflation index. Since the capital gain is the difference between the selling price and cost of acquisition, inflating the cost of acquisition in line with the inflation index helps reduce tax liability considerably. This is the main reason when we buy property, we should buy it with white money if intend to sell it in future.
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