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The Central Board of Direct Taxes specifies the Cost Inflation Index value for the financial year 2019-20. The Central Government makes this amendment under the Income-tax Act, 1961. The index number is 289 for financial year 2019-20. This notification takes effect on the 1st day of April, 2020. The index applies to the assessment year 2020-2021 and subsequent years.
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THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 12th September, 2019
(INCOME-TAX)
S.O. 3266(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 Official Gazette, vide number S.O. 2413(E), dated the 13th June, 2018, namely:—
Sl. No. Financial Year Cost Inflation Index
(1) (2) (3)
“19 2019-20 289”.
[Notification No. 63/2019/F. No. 370142/11/2019-TPL]
PRAVIN RAWAL, Director (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. 2413(E), dated the 13th June, 2018.
