Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Income-tax Act's Section 48 amended: 'Consumer Price Index (Urban)' replaces 'CPI for urban non-manual employees' for capital gains.</h1> Section 48 of the Income-tax Act is amended by replacing the phrase 'Consumer Price Index for urban non-manual employees' with 'Consumer Price Index (Urban)' in clause (v) of the Explanation. This change is effective from April 1, 2016, as per the Finance (No. 2) Act, 2014. This amendment pertains to the calculation of capital gains for direct taxes, impacting how inflation adjustments are determined for tax purposes.