CBDT notifies '348' as Cost Inflation Index (provisional) for Financial Year 2023-24

The CBDT vide Notification No. 21/2023, dated 10-04-2023, has notified ‘348’ as the Cost Inflation Index (provisional) for the Financial Year 2023-24. If a long-term capital asset is transferred, the capital gains is computed after deducting the indexed cost of acquisition instead of just the cost of acquisition. Such indexation of the cost of acquisition is determined based on the Cost Inflation Index.

Complete Circular attached here

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CBDT notifies '348' as Cost Inflation Index (provisional) for Financial Year 2023-24

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