CBDT notifies Cost Inflation indexes with Base Year as 2001-02

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  • 05 Jun 2017
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CBDT has vice Notification No. 44/2017 notified Cost Inflation indexes with Base Year as 2001-02 for the Financial Year 2001-02 to 2017-18 and same are applicable from Financial Year 2017-18.

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TEXES)

NOTIFICATION NO. 44/2017

New Delhi, the 5th June, 2017

INCOME-TAX

S.O. 1790(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 specifies the Cost Inflation Index as mentioned in column (3) of the Table for the Financial Years mentioned in the corresponding entry in column (2) of the said Table, namely:—

TABLE
SI. No. Financial Year Cost Inflation Index
(1) (2) (3)
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

2. This notification shall come into force with effect from 1st day of April, 2018 and shall accordingly apply to the assessment year 2018-19 and subsequent years.

[Notification No. 44/2017/F.No.370142/11/2017-TPL]

ABHISHEK GAUTAM,

Under Secy. (Tax Policy & Legislation)

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Posted Under

Category : Income Tax (28058)
Type : Notifications (15995) Notifications/Circulars (32363)
Tags : Capital Gain (410) Income Tax Notifications (9810) indexation (32) inflation index (25) Long Term Capital Gain (152)

9 responses to “CBDT notifies Cost Inflation indexes with Base Year as 2001-02”

  1. Gangaram says:
    June 7, 2017 at 5:01 pm

    Very dear Sir, cost indEx has been subsrituted fom base year to f.y.2001-02,have beautifully pasted . But it will behalpfull to all C.As and practicing Advocates in taxation side,if it may be more clarify byadding the waightage of percentage ,side by side, by value.
    Thanks
    Yours
    gangaram50@gmail.com
    Advocate M/S GANGARAM and co.

    Reply
  2. B.G. SHANKARA NARAYANA says:
    June 7, 2017 at 1:18 pm

    SIR,

    FROM WHICH DATE IT WILL BE IN FORCE,

    CAN WE CALCULATE THE CAPITAL GAIN LIABILITY ON THIS BASIS FOR FY 2016-17 KINDLY LET ME KNOW

    Reply
    • CA HEMANT C. PARIKH says:
      June 7, 2017 at 6:53 pm

      DEAR FRIEND,
      IT APPEARS THAT YOU HAVE NOT READ THE NOTIFICATION NO. 44/2017 CAREFULLY. IT IS SPECIFICALLY MENTIONED THAT THE NEW COST INFLATION INDEXES WILL BE APPLICABLE FROM FINANCIAL YEAR 2017-18.
      THANKS
      CA HEMANT C. PARIKH

      Reply
    • SKVijay says:
      June 7, 2017 at 8:24 pm

      Dear B.G.
      This notification shall come into force with effect from 1st day of April, 2018 and shall accordingly apply to the assessment year 2018-19 and subsequent years.

      Regards,
      SKVijay

      Reply
  3. Ashok Garg says:
    June 7, 2017 at 11:21 am

    The new table is practically identical to old Table , with identical results, except that now assessees can , as an option, adopt market value as on 01.04.2001

    Reply
    • gupta ak says:
      August 1, 2018 at 2:31 pm

      i DO NOT AGREE. LAND PURCHASED IN 97-98 (FOR 1.5 LAKH) AND SOLD IN 17-18, THE INDEXED VALUES ARE DIFFERENT AS ON 31.3.18. KINDLY ELEBORATE.

      Reply
  4. Gayathri says:
    June 7, 2017 at 10:38 am

    Please clarify the applicability of this notification.

    Reply
    • kamal says:
      June 7, 2017 at 2:17 pm

      From FY 2017-18.

      Reply
    • SKVijay says:
      June 7, 2017 at 8:22 pm

      Dear All,
      This notification shall come into force with effect from 1st day of April, 2018 and shall accordingly apply to the assessment year 2018-19 and subsequent years.
      This is for your info pl.
      Regards,
      SKVijay

      Reply

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