Cost of Inflation Index for Capital Gain Calculation For FY 2014-15: FY 2015-16

Check the Cost of Inflation Index from 1981-1982 to 2015-2016  for Calculating Capital Gain under Income Tax Act. Central Board of Direct Taxes has issued the Notification No 60 dated 24 July 2015 for New inflation index for FY 2015-16. If tax payer has done any capital transaction in FY 2015-16 i.e AY 2016-17 then capital gain/loss computation must be done using Inflation Index of 1081.

Central Board of Direct Taxes through Notification No. 31/2014/F.No.142/3/2014 has issued the Cost of Inflation Index for capital gain calculation for financial year 2014-15 is 1024 i.e. AY 2015-16.

Notification No. 31/2014/F.No.142/3/2014-TPL: S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (42 of 1961), the Central Government hereby  makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-

2. In the said notification, in the Table, after serial number 33 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

COST OF INFLATION CHART FOR 30 Years 

Also read When Can we Claim Exemption from Capital Gain under Income Tax on Profit on Sale of Property used for Residence