Cost Inflation Index for FY 2023-24 is 348

Income Tax Notification No. 21/2023, dated April 10, 2023

S.O. 1692(E).In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017, namely:-

In the said notification, in the TABLE, after serial number 1, the following serial number and entries relating thereto, shall be inserted, namely:-

Cost Inflation Index from 2001-02 to 2023-24

SI. No.	Financial Year	Cost Inflation Index (Provisioanl)
1	2001-02	100
2	2002-03	105
3	2003-04	109
4	2004-05	113
5	2005-06	117
6	2006-07	122
7	2007-08	129
8	2008-09	137
9	2009-10	148
10	2010-11	167
11	2011-12	184
12	2012-13	200
13	2013-14	220
14	2014-15	240
15	2015-16	254
16	2016-17	264
17	2017-18	272
18	2018-19	280
19	2019-20	289
20	2020-21	301
21	2021-22	317
22	2022-23	331
23	2023-24	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.

[Notification No. 21 /2023/F.No.370142/5/2023-TPL]

RAMAN CHOPRA, Jt. Secy.

Note:- The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 1790(E), dated the 5th June, 2017 and last amended by the notification number S.O 2735(E), dated the 14th June, 2022.

Enter your email address:

Subscribe to faceless complainces