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CBDT notified the Cost Inflation Index for FY 2023-24 as 348. Official notificaton has been mentioned below - MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification No. 21/2023-Income Tax Dated: 10th April, 2023 S.O. 1692(E).In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of t
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FAQ :
The Cost Inflation Index for the financial year 2023-24 has been notified as 348 by the CBDT.
This notification comes into force from the 1st day of April 2024.
The Cost Inflation Index of 348 will apply to assessment year 2024-25 and all subsequent assessment years.
The notification was issued by the Central Board of Direct Taxes (CBDT) under the Ministry of Finance.
The notification is made in exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961.
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