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The Central Board of Direct Taxes specifies the Cost Inflation Index for the financial year 2023-24 as 348. This index applies to the assessment year 2024-25 and subsequent assessment years. Taxpayers use this value for computing capital gains under the Income-tax Act, 1961.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) INCOME-TAX NOTIFICATION New Delhi, the 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 the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017, namely:-
TABLE Sl. No. Financial Year Cost Inflation Index (provisional) (1) (2) (3) “23 2023-24 348”.
[Notification No. 21 /2023/F.No.370142/5/2023-TPL] RAMAN CHOPRA, Jt. Secy.
Note:- The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 1790(E), dated the 5th June, 2017 and last amended by the notification number S.O 2735(E), dated the 14th June, 2022.
