Cost Inflation Index

Recently, the Income Tax Department has notified the Cost Inflation Index (CII) for the current fiscal beginning April 2023.

About CII

  • CII number is used to adjust the purchase price of assets on the basis of inflation.
  • The CII number helps an individual to ascertain the inflation-adjusted current price of an asset.
  • This helps in calculating capital gains from a transfer or sale of capital assets after taking inflation into account.
  • Capital gain refers to the profit acquired from the sale/transfer of any capital assets, including land, property, stocks, shares, trademarks, patents, etc.
  • It helps taxpayers offset the impact of inflation as the ....
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