19/6/2024, 10:58:03 am

What is Cost Inflation Index (CII) for FY 2024-25, FY 23-24 for income tax

The indexation benefit allows taxpayers to adjust the purchase price of an asset according to inflation, reducing tax on long-term capital gains. The Cost Inflation Index (CII) is notified by the income tax department annually, with the current CII for FY 2024-25 being 363. The benefit is available for certain assets, including land, buildings, and unlisted shares.