CBDT 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 <a href="https://studycafe.in/cbdt-notifies-cost-inflation-index-of-fy-2023-24-211492.html">provisional </a><a href="https://studycafe.in/cbdt-notifies-cost-inflation-index-of-fy-2023-24-211492.html">Cost Inflation index</a>. This time Final CII has been notified now.

The <a href="https://studycafe.in/tag/cost-inflation-index/">Cost Inflation index</a> (CII) of FY 2023-24 is 348.

<img class="alignnone size-full wp-image-228667" src="https://assets.studycafe.in/uploads/2023/06/CBDT-Notifies-Final-Cost-Inflation-Index-for-Financial-Year-2023-24-1.jpg" alt="" width="398" height="697" />

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.

<img class="size-full wp-image-228665 aligncenter" src="https://assets.studycafe.in/uploads/2023/06/CBDT-Notifies-Final-Cost-Inflation-Index-for-Financial-Year-2023-24.jpg" alt="" width="968" height="759" />

The Final Cost Inflation index (CII) of FY 2023-24 is 348.

CBDT Notifies Final Cost Inflation Index for Financial Year 2023-24

ITAT Holds Resale Price Method as Most Appropriate for Benchmarking Import of Finished Goods Without Value Addition

In a significant ruling, the ITAT quashed an income tax assessment after holding that the order attained legal existence only upon being digitally signed.

ITAT Holds Assessment Order Is Legally Complete Only After Digital Signature; Time-Barred Order Quashed

HC Denies Anticipatory Bail to Material Supplier in Alleged Nal-Jal Yojana Fraud Over Missing GST Bills and Invoices

ITAT Rules No TDS on Commission Paid to Overseas Agent for Procuring Export Orders 

ITAT Deletes Penalty under Section 270A for Vague Show Cause Notice Lacking Specific Charge

Income Tax Dept Removes ‘Other Exempt Income’ Option from ITR Forms, Revises Schedule EI for AY 2026-27

India’s four labour codes come into force today, introducing major reforms in wages, social security, industrial relations, and workplace safety across the country.

Biggest Labour Reform in Indian History: 4 Labour Codes Effective from today

The Tax Audit and Income Tax Return (ITR) filing due dates remain unchanged in these cases. Taxpayers and professionals must complete filings within the prescribed deadlines. Read the detailed update here.

Tax Audit and ITR Due date not extended in this case: Know More

The Government of India has officially notified the Agreement and Protocol between India and Qatar, strengthening bilateral economic and trade relations. Read the full notification here.

Government notifies Agreement and Protocol between India and Qatar [Read Notification]

ICAI results 2025 likely to be announced soon. Stay updated with the probable date of CA Final and Intermediate exam results and official ICAI updates.

CA Breaking: Results of ICAI Examination to be announced soon, Know probable Date

CBIC has extended the GSTR-3B due date for September 2025 considering Diwali festivities. Relief for taxpayers as filing deadline gets an extension. Check new due date details here