Cost Inflation Index for the financial year 2019-20 notified as 289 - Seeks to amend Notification No. 26/2018 dated 13/06/2018 - 63/2019 - Income Tax Act, 1961
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Cost Inflation Index updated to affect indexed cost computation for capital gains from the relevant assessment year onward. The notification amends the earlier tax notification to insert the Cost Inflation Index for financial year 2019-20 into the table of index values, and provides that the amendment comes into force from the stated effective date and applies to the corresponding assessment year and subsequent years, under the Explanation to the relevant provision of the Income-tax Act.
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Provisions expressly mentioned in the judgment/order text.
Cost Inflation Index updated to affect indexed cost computation for capital gains from the relevant assessment year onward.
The notification amends the earlier tax notification to insert the Cost Inflation Index for financial year 2019-20 into the table of index values, and provides that the amendment comes into force from the stated effective date and applies to the corresponding assessment year and subsequent years, under the Explanation to the relevant provision of the Income-tax Act.
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