Cost inflation index for Financial Year 2023-24
New Cost Inflation Index (CII) for FY 2023-24/ AY 2024-25 notified by CBDT-
The CBDT has announced that the ‘Cost Inflation Index’ in respect of
Financial Year 2023-24 (Assessment Year 2024-25) shall be 348 as notified by
CBDT Notification No. 21/2023 dated 10.04.2023, this has been increased from 331 (financial year 2022-23). It is used for calculating
‘Long Term Capital Gains (LTCG)’ on assets under Income Tax.
S.O. 1692(E).- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017, namely:-
The Chart of Cost inflation index (CII) for the FY 2001-02 to 2023-24 are as under-
|
S. No.
|
Financial Year
|
Cost Inflation Index
|
|
1
|
2001-02
|
100
|
|
2
|
2002-03
|
105
|
|
3
|
2003-04
|
109
|
|
4
|
2004-05
|
113
|
|
5
|
2005-06
|
117
|
|
6
|
2006-07
|
122
|
|
7
|
2007-08
|
129
|
|
8
|
2008-09
|
137
|
|
9
|
2009-10
|
148
|
|
10
|
2010-11
|
167
|
|
11
|
2011-12
|
184
|
|
12
|
2012-13
|
200
|
|
13
|
2013-14
|
220
|
|
14
|
2014-15
|
240
|
|
15
|
2015-16
|
254
|
|
16
|
2016-17
|
264
|
|
17
|
2017-18
|
272
|
|
18
|
2018-19
|
280
|
|
19
|
2019-20
|
289
|
|
20
|
2020-21
|
301
|
|
21
|
2021-22
|
317
|
|
22
|
2022-23
|
331
|
|
23
|
2023-24
|
348
|