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of <h1>Government Sets Cost Inflation Index for Capital Gains Calculation under Income-tax Act, 1961.</h1> The Central Government, under the powers granted by the Income-tax Act, 1961, has specified the Cost Inflation Index (CII) for various financial years, reflecting 75% of the average rise in the Consumer Price Index for urban non-manual employees. The CII starts at 100 for the financial year 1981-82 and increases annually, reaching 1125 by 2016-17. This index is used for calculating capital gains by adjusting the cost of acquisition of assets to account for inflation. The notification has been amended several times, with the latest amendments included up to 2016.
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