​Cost Inflation Index (CII)

  • On 25th May, 2024, the income tax department notified the Cost Inflation Index for the current fiscal beginning April 2024, for calculating long-term capital gains arising from sale of immovable property, securities and jewellery.
  • CII is a tool used to adjust the purchase price of an asset for inflation so that the actual inflationary gain or loss can be accurately determined when the asset is sold.
  • This index, notified each year by the Government is defined under Section 48 of the Income Tax Act, 1961.
  • The CII is used to compute long-term capital gains tax in ....
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