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The Central Board of Direct Taxes specifies the Cost Inflation Index as 317 for the financial year 2021-2022. This index applies to the assessment year 2022-2023 and subsequent years. The Central Government makes this change under section 48 of the Income-tax Act, 1961.
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MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 15th June, 2021 INCOME-TAX
S.O. 2336(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)
“ 21 2021-2022 317”.
[Notification No. 73/ 2021/F.No.370142/10/2021-TPL] KAMLESH CHANDRA VARSHNEY, Jt. 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 5th June, 2017 and was last amended vide S.O. 1879 (E) dated 12th June, 2020.
