‘331’ notified as Cost Inflation Index for Financial Year 2022-23
- Blog|Income Tax|News|
- 194 Views
- < 1 minute
- By Taxmann
- Last Updated on 16 June, 2022
Notification No. 62/2022, dated 14-06-2022
The Central Board of Direct Taxes (CBDT) notifies the Cost of Inflation Index (CII) every year. It is used to compute long-term capital gains/losses wherein the cost of acquisition/improvement is indexed with reference to the applicable CII of the relevant year.
The CBDT has notified ‘331’ as CII for the Financial Year 2022-23.
CII of 331 shall be used to compute long-term capital gains or losses on the capital assets which have been or are planned to be sold during the Financial Year 2022-23. The CII for the last financial year, i.e., the financial year 2021-22 was 317.
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied