CBDT notified ‘317’ Cost Inflation Index (CII) for Financial Year 2021-22

The CBDT vide Notification No. 73/2021, dated 15-06-2021 has notified 317 the Cost Inflation Index for the Financial Year 2021-22. If a long-term capital asset is transferred, the capital gains is computed after deducting the indexed cost of acquisition instead of just cost of acquisition. Such indexation of cost of acquisition is done on the basis of Cost Inflation Index.The CBDT vide Notification No. 73/2021, dated 15-06-2021 has notified 317 the Cost Inflation Index for the Financial Year 2021-22. If a long-term capital asset is transferred, the capital gains is computed after deducting the indexed cost of acquisition instead of just cost of acquisition. Such indexation of cost of acquisition is done on the basis of Cost Inflation Index.taxmann.com Latest Statutory HappeningsRead More

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