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Cost Inflation Index 2023/24
June 1 , 2024
176 days
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- Cost Inflation Index (CII) for Financial Year 2024-25 has been fixed at 363.
- The CII number for last fiscal was 348 and for 2022-23 financial year it was 331.
- It shows a rise of 4.3 per cent.
- The Central Board of Direct Taxes (CBDT) has notified the index.
- CII is a way to calculate inflation, that is, an estimated increase in the price of a good or service over the years.
- Indexation is used to adjust the purchase price of an investment to reflect the effect of inflation on it.
- A higher purchase price means lesser profits, which effectively means a lower tax.
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