WebJun 16, 2024 · Every year CBDT notifies the CII data for each financial year. In this process, the Cost Inflation Index or CII for the Financial Year 2024-22 is notified as 317. The same was at 301 in the last year 2024-21, an increase of 5.32 per cent over the preceding financial year. The importance of CII or Cost Inflation Index is that this number is used ... WebAug 21, 2024 · Cost inflation index has been announced for F.Y. 2024-22 at 317 and for previous year FY 2024-21 it was 301. No Result . View All Result . Saturday, April 8, 2024. Home; Income Tax. ... (CII) for FY 2024 …

CBDT notifies Cost Inflation Index (CII) for Financial Year 2024-22

WebThis CII number will be used to arrive at long-term capital gains such as from the sale of debt mutual funds, flat etc. at the time of income tax returns filing for FY 2024-22 or AY 2024-23. As per the notification, CII for FY 2024-22 shall come into effect from April 1, 2024 and will be applicable to assessment year 2024-23 and subsequent ... Cost Inflation Index is used to calculate the notional increase in the value of an asset due to inflation. The importance of CII is that this number is used to arrive at the inflation-adjusted cost price of assets transferred for the purpose of computing long-term capital gains. There are two things that individuals need … See more Let’s understand the concept of CII in reference to the computation of long-term capital gains under Section 48 of the Income Tax Act, … See more The base year is the first year of the cost inflation index and has an index value of 100. Index of all other years is compared to the base year to see the increase in inflation percentage. For any capital asset purchased before the … See more Taxpayer can’t take the benefit of indexation for computing long-term capital gains arising out of the transfer of the following assets: 1. Equity shares of the company in a case where STT has been paid on the … See more Initially, 1981-82 was considered as the base year for computing CII. But, taxpayers were facing hardships in getting the properties valued which were purchased before 1st April 1981. Tax authorities were also … See more the perfect door wedge

Cost Inflation Index - Overview of CII, Calculation Table

WebSep 21, 2024 · Registration for this event closed Friday, September 16. Links: Conference program Attendee list (as of 9/15/22)Who Can Attend: CII's events are … WebOct 2, 2024 · This year the Cost Inflation Index (CII) has been notified by the Ministry of Finance. In the notification dated 12 June, 2024, the finance minister stated that CII for FY 2024-21 has been set as 301. For the previous financial year, i.e. 2024-20 CII was 289. WebJul 1, 2024 · What is the CII i.e. Cost Inflation Index for FY 2024-22? CII i.e. Cost Inflation Index is issued by the income tax department for each financial year. The CBDT notified … sibley rehabilitation center