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For computing cost of acquisition of equities  while reporting long term capital gains,are we allowed to apply Cost Inflation Indiex (CII)?

Some websites say no -

the benefit of inflation indexation of the cost of acquisition will not be available for the purpose of calculating LTCG on equity shares or equity-oriented funds. Source: TW

Others imply yes.

In the case of unlisted equity shares, you have the option to take indexation benefits or not. You can calculate your tax liability both with indexation at 20% and without indexation at 10% and choose whichever is more beneficial. Source: TW 2023

Related questions:

Long term capital gains tax on equities in India

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No indexation benefit available in 2 situation. Rest all situations generally indexation can be claimed.

  1. For Indian listed equity shares/mutual funds (irrespective of residential status)

  2. For non-residents only - on shares/debentures of Indian company. (Section 48 proviso 2)

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