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April 11, 2023

Cost Inflation Index for FY 2023-24 is 348

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 YearCost Inflation Index (Provisioanl)
12001-02100
22002-03105
32003-04109
42004-05113
52005-06117
62006-07122
72007-08129
82008-09137
92009-10148
102010-11167
112011-12184
122012-13200
132013-14220
142014-15240
152015-16254
162016-17264
172017-18272
182018-19280
192019-20289
202020-21301
212021-22317
222022-23331
232023-24348

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.

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