Income Tax Department notifies CII for FY 2024-25

New Delhi, May 25 (Tezzbuzz). The Income Tax Department has notified the Cost Inflation Index (CII) for the current financial year 2024-25 for calculating long-term capital gains arising from the sale of real estate, securities and jewellery.
According to a statement issued by the Central Board of Direct Taxes (CBDT) on Saturday, the Cost Inflation Index (CII) has been notified for the current financial year 2024-2025 through Notification No. 44/2024 dated May 24, 2024. According to the notification issued by the CBDT, the CII for the financial year 2024-25 and assessment year 2025-26 is 363. Earlier, the CII for the financial year 2023-24 was 348, while for the financial year 2022-23 it was 331.
It is noteworthy that the Cost Inflation Index (CII) is used by taxpayers to calculate the profit from the sale of capital assets after adjusting for inflation.
Tezzbuzz News/Prajesh Shankar/Dadhibal