CBDT notifies Cost Inflation Index for FY 2021- 22

CBDT notifies Cost Inflation Index for FY 2021- 22

Notification No. 73/ 2021/F.No.370142/10/2021-TPL

 

The Central Government vide notification dated 15th June 2021apprised the Cost Inflation Index for FY 2021- 22 as '317'. As per the notification, CII for FY 2021-22 shall come into effect from April 1, 2022, and will be applicable to the assessment year 2022-23 and subsequent assessment years.

 

It was specified in the notification that in the exercise of the power conferred by Section 48 (v) of the Explanation of the Income Tax Act, the Central government makes further amendments in the notification published in the Official Gazette of India, Extraordinary, vide number S.O. 1790(E), dated 5th of June 2017.

 

Consistently, in the said notification the following serial number and entries shall be inserted after serial number 20;

 

Sl No.

Financial Year

Cost Inflation Index

(1)

(2)

(3)

"21

2021-2022

317"

 

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