Cost Inflation Index revised for the financial year based on consumer price index methodology and prescribed notification. Specification of the Cost Inflation Index for the financial year commencing 1 April 2004 and ending 31 March 2005 is made under clause (v) of the Explanation to section 48 of the Income tax Act, 1961, based on seventy five per cent of the average rise in the Consumer Price Index for urban non manual employees; the notification inserts a new serial entry into the existing Table and publishes the updated chart of indices from 1981-82 through 2004-05.
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 revised for the financial year based on consumer price index methodology and prescribed notification.
Specification of the Cost Inflation Index for the financial year commencing 1 April 2004 and ending 31 March 2005 is made under clause (v) of the Explanation to section 48 of the Income tax Act, 1961, based on seventy five per cent of the average rise in the Consumer Price Index for urban non manual employees; the notification inserts a new serial entry into the existing Table and publishes the updated chart of indices from 1981-82 through 2004-05.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
