Cost Inflation Index for FY 20-21 notified

Last updated: 13 June 2020

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The Central Board of Direct Taxes has officially notified the Cost Inflation Index (CII) for the financial year 2020-21. The index has been set at 301. This notification, which comes into effect from April 1st, 2021, will apply to the assessment year 2021-22 and all subsequent years. The updated index is crucial for calculating capital gains tax on the sale of assets.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th June, 2020 Income-Tax S.O. 1879(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

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FAQ :

The Cost Inflation Index for the financial year 2020-21 has been notified as 301.

This notification comes into force from the 1st day of April, 2021.

It will apply to the assessment year 2021-22 and subsequent years.

The notification was issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes.

The Cost Inflation Index is used to adjust the cost of an asset for inflation when calculating capital gains tax.

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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Cost Inflation Index for FY 20-21 notified