CBDT Notifies Final Cost Inflation Index for Financial Year 2023-24:
The Final Cost Inflation index (CII) of FY 2023-24 is 348. Cost Inflation index for Income Tax The Final Cost Inflation index (CII) of FY 2023-24 is 348.
Cost Inflation index for Income Tax
CA Pratibha Goyal
Jun 12, 2023CBDT Notifies Final Cost Inflation Index for Financial Year 2023-24
Central Board of Direct Taxes (CBDT) in the exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), has notified the Cost Inflation Index (CII) of Financial Year (FY) 2023-24.
In the last notification, the board notified the provisional Cost Inflation index. This time Final CII has been notified now.
The Cost Inflation index (CII) of FY 2023-24 is 348.
This notification shall come into force with effect from the 1st day of April 2024 and shall, accordingly, apply in relation to the assessment year 2024-25 and subsequent assessment years.
This notification shall come into force with effect from the 1st day of April 2024 and shall, accordingly, apply in relation to the assessment year 2024-25 and subsequent assessment years.
About Author
CA Pratibha Goyal
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CA Pratibha Goyal is Chartered Accountant qualified in 2016, is a Member of The Institute of Chartered Accountants of India having wide experience in the field of Auditing, Taxation, ROC, GST and Secretarial matters etc.
She has written over a thousand articles & has made several videos on topics related to Auditing & Taxation. As a Speaker she has delivered various sessions on various branches of NIRC of ICAI.
CA Pratibha Goyal is Chartered Accountant qualified in 2016, is a Member of The Institute of Chartered Accountants of India having wide experience in the field of Auditing, Taxation, ROC, GST and Secretarial matters etc.
She has written over a thousand articles & has made several videos on topics related to Auditing & Taxation. As a Speaker she has delivered various sessions on various branches of NIRC of ICAI.
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