Quick Summary
The Central Board of Direct Taxes (CBDT) has officially notified 363 as the Cost Inflation Index (CII) for the financial year 2024-25. This index is a crucial figure used in the calculation of long-term capital gains on the sale of assets and is essential for taxpayers when adjusting for inflation.
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FAQ :
The Cost Inflation Index (CII) for the financial year 2024-25 has been notified as 363 by the CBDT.
The Central Board of Direct Taxes (CBDT) notified the Cost Inflation Index.
The CII is used to calculate long-term capital gains on the sale of assets by adjusting the cost of the asset for inflation.
The new index comes into effect from April 1, 2025.
The new CII will apply to the assessment year 2025-26 and subsequent assessment years.
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