Cost Inflation Index specified under section 48 for computing indexed cost of acquisition across listed financial years. The Central Government, under the Explanation to the Income-tax Act provision for capital gains, specifies a Cost Inflation Index for each financial year 1981-82 through 1993-94, having regard to seventy-five per cent of the average rise in the Consumer Price Index for urban non-manual employees; the notification lists the annual index numbers to be used for indexation of cost of acquisition and improvement when computing taxable capital gains.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cost Inflation Index specified under section 48 for computing indexed cost of acquisition across listed financial years.
The Central Government, under the Explanation to the Income-tax Act provision for capital gains, specifies a Cost Inflation Index for each financial year 1981-82 through 1993-94, having regard to seventy-five per cent of the average rise in the Consumer Price Index for urban non-manual employees; the notification lists the annual index numbers to be used for indexation of cost of acquisition and improvement when computing taxable capital gains.
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