The Income tax department has notified cost inflation index(CII) for the financial year 2015-16. Cost inflation index is the calculation tool with which capital gain of sale of assets is calculated. CBDT issued a notification no. 60/2015 dated 24 July 2015 about cost inflation index for financial year 2015-16. Cost inflation index for financial year 2015-16 and the previous Cost inflation index of 34 years are as follows.
S.O. 2031 (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 makes the
following further amendments 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 34 and the entries relating thereto, the
following serial number and entries shall be inserted, namely:-
Sl. No. Financial Year Cost Inflation Index(1) (2) (3)
“35 2015-16 1081”.
|
Financial Year
|
Cost Inflation index(CII)
|
|
2015-16
|
1081
|
|
2014-15
|
1024
|
|
2013-14
|
939
|
|
2012-13
|
852
|
|
2011-12
|
785
|
|
2010-11
|
711
|
|
2009-10
|
632
|
|
2008-09
|
582
|
|
2007-08
|
551
|
|
2006-07
|
519
|
|
2005-06
|
497
|
|
2004-05
|
480
|
|
2003-04
|
463
|
|
2002-03
|
447
|
|
2001-02
|
426
|
|
2000-01
|
406
|
|
1999-2000
|
389
|
|
1998-99
|
351
|
|
1997-98
|
331
|
|
1996-97
|
305
|
|
1995-96
|
281
|
|
1994-95
|
259
|
|
1993-94
|
244
|
|
1992-93
|
223
|
|
1991-92
|
199
|
|
1990-91
|
182
|
|
1989-90
|
172
|
|
1988-89
|
161
|
|
1987-88
|
150
|
|
1986-87
|
140
|
|
1985-86
|
133
|
|
1984-85
|
125
|
|
1983-84
|
116
|
|
1982-83
|
109
|
|
1981-82
|
100
|
