The CBDT vide Notification No. 73/2021 dated June 15, 2021 amended Notification No. S.O. 1790(E), dated June 5, 2017 to insert the Cost Inflation Index for the Financial Year 2021-2022 in order to calculate indexed cost of acquisition for the purpose of calculating capital gains as per Section 48 of the Income Tax Act, 1961.
The following entry has been inserted:
|
SI. No. |
Financial Year | Cost Inflation Index |
|
(1) |
(2) |
(3) |
| “21 | 2021-2022 |
317” |
The Notification shall be effective from April 1, 2022 and shall accordingly apply to the Assessment Year 2022-2023 and subsequent years.
The Notification can be accessed at: https://egazette.nic.in/WriteReadData/2021/227620.pdf