Cost Inflation Index revision affects capital gains indexation; the updated index applies from the assessment year beginning after April first. Amendment adds a new table entry inserting the Cost Inflation Index value of 348 for Financial Year 2023-24 by exercising powers under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961; the amendment takes effect from 1 April and applies to the corresponding assessment year and subsequent assessment years.