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CBDT Notifies ‘348’ as Cost Inflation Index (provisional) for Financial Year 2023-24

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Cost Inflation Index

Notification 21/2023, dated 10-04-2023

The Central Board of Direct Taxes (CBDT) notifies the Cost of Inflation Index (CII) annually. It is used to compute long-term capital gains/losses wherein the cost of acquisition/improvement is indexed with reference to the applicable CII of the relevant year.

For the Financial Year 2023-24, the board has notified ‘348’ as CII. This CII shall be used to compute long-term capital gains or losses on the capital assets which have been or are planned to be sold during the financial Year 2023-24.

It should be noted that said CII is a provisional figure, and the board may notify the actual CII later.

Click Here To Read The Full Notification

The post CBDT Notifies ‘348’ as Cost Inflation Index (provisional) for Financial Year 2023-24 appeared first on Taxmann Blog.

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