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Cost Inflation Index notified for tax computation under capital gains rules and amended in the prior index table. The Cost Inflation Index for the financial year 1999-2000 was specified under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961, having regard to seventy-five per cent of the average rise in the Consumer Price Index for urban non-manual employees. The earlier notification dated 20 August 1998 was amended by inserting the index figure for 1999-2000 in the prescribed table, with the notified index fixed at 389.
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Cost Inflation Index notified for tax computation under capital gains rules and amended in the prior index table.
The Cost Inflation Index for the financial year 1999-2000 was specified under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961, having regard to seventy-five per cent of the average rise in the Consumer Price Index for urban non-manual employees. The earlier notification dated 20 August 1998 was amended by inserting the index figure for 1999-2000 in the prescribed table, with the notified index fixed at 389.
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