Cost Inflation Index updated for the relevant financial year under Income tax explanation, altering indexed cost computation. The Central Government prescribes the Cost Inflation Index for the relevant financial year under the Explanation to the Income tax provision on indexed cost of acquisition, amending the prior notification by inserting a new table entry that fixes the index value based on seventy five per cent of the average rise in the Consumer Price Index for urban non manual employees for the preceding year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cost Inflation Index updated for the relevant financial year under Income tax explanation, altering indexed cost computation.
The Central Government prescribes the Cost Inflation Index for the relevant financial year under the Explanation to the Income tax provision on indexed cost of acquisition, amending the prior notification by inserting a new table entry that fixes the index value based on seventy five per cent of the average rise in the Consumer Price Index for urban non manual employees for the preceding year.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
