Cost Inflation Index revised, altering indexed capital gains computation and applying to the corresponding assessment year going forward. The Central Government, under the Explanation to section 48 of the Income-tax Act, inserts the Cost Inflation Index for the financial year 2022-23 into the notification table, thereby updating the indexation basis used for computing indexed cost of acquisition and capital gains. The notification is effective from 1 April and applies to the corresponding assessment year and subsequent years as an amendment to the principal notification.