Govertment notifies FY24 Cost Inflation Index
Taxpayers can use the Cost Inflation Index to calculate how much tax they need to pay on sale of immovable assets after adjusting for inflation.
Finance Minister Nirmala Sitharaman at a press conference in New Delhi. (Photo Credit: TV9 Bharatvarsh)
The government has released the Cost Inflation Index for the current financial year. Taxpayers can use this index to calculate how much tax they need to pay on sale of immovable assets after adjusting for inflation. These assets can be properties, shares of a company, jewellery, etc. It will enable taxpayers to remit tax on time for fiscal 2024. The Cost Inflation Index for FY24 will be relevant for assessment year 2024-25
Published: April 13, 2023, 13:32 IST