TaxTMI 
TaxTMI 
Cost Inflation Index - THE FINANCE (No. 2) BILL, 2014
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....ost Inflation Index - THE FINANCE (No. 2) BILL, 2014 <br>News and Press Release<br>Dated:- 13-7-2014<br><BR>Cost Inflation Index The existing provisions contained in section 48 prescribe the mode of....
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.... computation of income chargeable under the head "Capital gains". Clause (v) of the Explanation to the said section defines the term "Cost Inflation Index" (CII) which in relation to a previous year m....
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....eans such index as may be notified by the Government having regard to seventy-five percent of average rise in the Consumer Price Index (CPI) for urban non-manual employees (UNME) for the immediately p....
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....receding previous year to such previous year. The release of CPI for UNME has been discontinued. Accordingly, it is proposed to amend the said clause (v) of the Explanation to section 48 to provide ....
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....that "Cost Inflation Index" in relation to a previous year means such index as may be notified by the Central Government having regard to seventy-five percent of average rise in the Consumer Price Ind....
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....ex (Urban) for the immediately preceding previous year to such previous year. This amendment will take effect from 1st April, 2016 and will, accordingly, apply in relation to assessment year 2016-17....
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.... and subsequent assessment years. [Clause 19]<BR> News - Press release - PIB....