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)

Also Read- Cost Inflation Index – Meaning & Index from 1981-82 to all the years

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10 Comments

  1. Jayant Sahi says:

    Dear Sir

    While filing Tax Returns for AY 2019-20, do we consider the cost index of FY 2017-18 or is there already a notified index for FY 2018-19? If there is could you please guide me.

    Thanks and regards

    Jayant Sahi

      Reply
  2. Gangaram says:

    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
  3. B.G. SHANKARA NARAYANA says:

    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
    1. CA HEMANT C. PARIKH says:

      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
    2. SKVijay says:

      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
  4. Ashok Garg says:

    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
    1. gupta ak says:

      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
    2. SKVijay says:

      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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