Cost inflation index number for FY 2023-24 (AY 2024-25) used for LTCG calculation notified by CBDT
The income tax department has notified the cost inflation index (CII) number for the current financial year. The CII number is used to arrive at the inflation-adjusted price of an asset. The capital gains that are chargeable to income tax are lowered using the indexation benefit. From FY 2023-24, the indexation benefit has been removed from debt mutual funds.
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