WebJun 27, 2024 · The cost of inflation index (CII) for the financial year 2024-22 has been notified by the Ministry of Finance. The ministry has set the Cost Inflation Index FY 202-22 as 317.For the previous FY 2024-21, CII value was 301. The rate of inflation for indexation purposes is specified by the Indian Government for every financial year. WebDec 17, 2024 · Cost Inflation Index for capital gains helps to adjust the cost price of the asset according to its sale price. The adjusted cost price leads to lower profits and …
What is cost inflation index for FY 2024-22 used in LTCG …
WebApr 11, 2024 · Cost Inflation Index (CII) for the base financial year 2001-02 is 100. Hence, the cost of the assets purchased on or before FY 2001-02 has increased by more than 3.48 times in 23 years of time. NOTIFIED COST INFLATION INDEX UNDER SECTION 48, EXPLANATION (V) WebJun 18, 2024 · The Finance Ministry has notified 280 as the cost inflation index (CII) number for the Financial Year (FY) 2024-19. This CII number is important as it will be used to compute inflation adjusted long-term capital gains (LTCG) on assets such as house, gold, debt mutual funds (MF) etc. accrued in FY 2024-19 and consequently impacts the … good morning family imagines
I-T Dept notifies Cost Inflation Index for the current fiscal
WebThe cost inflation index (CII) is a means to measure inflation, which is used in the computation of long-term capital gains concerning the sale of assets. Cost inflation … WebApr 11, 2024 · Cost Inflation Index (CII) is an index used in India to measure the rate of inflation in the economy. It is used to adjust the purchase price of an asset, such as … WebCost Inflation Index or CII is a tool used in the calculation of an estimated yearly increase in an asset’s price as a result of inflation. The Central Government fixes this index and … good morning family guy gif