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The Central Government specifies the Cost Inflation Index value of 331 for the financial year 2022-23. This value comes into force on the 1st day of April, 2023. It applies to the assessment year 2023-24 and subsequent years under the Income-tax Act, 1961.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 14th June, 2022 INCOME-TAX
S.O. 2735(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 |
|---|---|---|
| (1) | (2) | (3) |
| “22 | 2022-23 | 331” |
[Notification No. 62 /2022/F. No. 370142/20/2022-TPL] UMME FARDINA ADIL, Under Secy. (Tax Policy and Legislation)
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 was last amended vide S.O. 2336(E) dated 15th June, 2021.
