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Cost Inflation Index for Financial Year notified as 1125 - Amendments in Notification Number S.O. 709(E), dated the 20th August, 1998 - 42/2016 - Income Tax Act, 1961
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Cost Inflation Index updated for the financial year, affecting indexed cost calculations under section 48 of income tax. The Central Government, under clause (v) of the Explanation to section 48, inserts a new serial entry in the Table of the principal notification to add a Cost Inflation Index for the specified financial year, thereby prescribing the index figure to be used for computing indexed cost of acquisition for capital gains purposes.
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Cost Inflation Index updated for the financial year, affecting indexed cost calculations under section 48 of income tax.
The Central Government, under clause (v) of the Explanation to section 48, inserts a new serial entry in the Table of the principal notification to add a Cost Inflation Index for the specified financial year, thereby prescribing the index figure to be used for computing indexed cost of acquisition for capital gains purposes.
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