Web2 days ago · The CII for FY 2024-24 relevant to AY 2024-25 stood at 348, as per a notification of the Central Board of Direct Taxes. Usually, the income tax department notifies CII in the month of June. WebJun 16, 2024 · Cost Inflation Index (CII) for FY 2024-19/ AY 2024-20 Notified by CBDT at 280 (Base Year 2001-02) In the case of transfer of short term capital asset, the amount of capital gains can be arrived at by deducting the cost of acquisition/ improvement from the sale consideration. However, in the case of transfer of long term capital asset, capital ...
Central Board Of Direct Taxes Releases Cost Inflation Index For FY …
WebApr 11, 2024 · This notification to notify the Cost Inflation Index (CII) for FY 2024-24 (AY 2024-25) is notified under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961. The importance of CII or the Cost Inflation Index is that this number is used to arrive at the inflation-adjusted cost price of assets transferred for the purpose of ... WebApr 11, 2024 · The Income Tax (I-T) Department has notified the Cost Inflation Index (CII) for the current financial year beginning April 2024, for the calculation of long-term capital gains tax (LTCG) arising from the sale of immovable property, securities, and jewellery, reported PTI. As per the notification dated April 10, 2024, the CII number for the ... pismo beach lodging
Indexed Cost of Acquisition or Improvement
WebCII Enhanced Capital and Income Fund ... will be sent to shareholders to illustrate how the Fund’s distributions should be reported for federal income tax purposes. KEY FACTS Size of Fund (Millions) $774.7M ... Asset Class Equity Morningstar Category Derivative Income Lipper Classification Opt Arbitrage/ Opt Strat NAV Per Share 17.55 Share ... WebCost Inflation Index or CII is a tool used in the calculation of an estimated yearly increase in an asset’s price as a result of inflation. The Central Government fixes this index and publishes it in its official gazette for measuring inflation. This index, notified each year by the Government is defined under Section 48 of the Income Tax Act ... WebNov 20, 2024 · Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of … pismo beach market night 2022