Cost Inflation Index specified for income tax computation under section 48, with year-wise values and future applicability. The Central Government has specified the Cost Inflation Index under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 by a year-wise table of index values for financial years from 2001-02 onward, including the values applicable from Financial Year 2017-18. The notification takes effect from 1 April 2018 and applies to Assessment Year 2018-19 and subsequent years, with later notifications extending the table for additional financial years.
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Provisions expressly mentioned in the judgment/order text.
Cost Inflation Index specified for income tax computation under section 48, with year-wise values and future applicability.
The Central Government has specified the Cost Inflation Index under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 by a year-wise table of index values for financial years from 2001-02 onward, including the values applicable from Financial Year 2017-18. The notification takes effect from 1 April 2018 and applies to Assessment Year 2018-19 and subsequent years, with later notifications extending the table for additional financial years.
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