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Cost Inflation Index (CII) for AY 2018-19 (FY 2017-18) [New Base Year FY 2001-02]

CBDT has notified the Cost Inflation Index(CII) vide its notification S.O. 1790(E) on 5th June 2017. The major change in this year's notification is the introduction of new base year as FY 2001-02 instead of earlier FY 1981-82. The CII notified for the Assessment Year 2018-19 (Financial Year 2017-18) is 272.

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.

Assessment Year   (AY)
Financial Year   (FY)
Cost Inflation Index (CII)
YOY Hike
YOY Hike (%)
2018-19
2017-18
272
8
3.03%
2017-18
2016-17
264
10
3.94%
2016-17
2015-16
254
14
5.83%
2015-16
2014-15
240
20
9.09%
2014-15
2013-14
220
20
10.00%
2013-14
2012-13
200
16
8.70%
2012-13
2011-12
184
17
10.18%
2011-12
2010-11
167
19
12.84%
2010-11
2009-10
148
11
8.03%
2009-10
2008-09
137
8
6.20%
2008-09
2007-08
129
7
5.74%
2007-08
2006-07
122
5
4.27%
2006-07
2005-06
117
4
3.54%
2005-06
2004-05
113
4
3.67%
2004-05
2003-04
109
4
3.81%
2003-04
2002-03
105
5
5.00%
2002-03
2001-02
100
-
-
The Notification S.O. 1790(E) dated 5th June, 2017 is available here - link


What is Cost Inflation Index (CII)?

The meaning of Cost Inflation Index is given in the section 48 of the Income Tax Act, 1961.

"Cost Inflation Index", in relation to a previous year, means such Index as the Central Government may, having regard to seventy-five per cent(75%) of average rise in the Consumer Price Index (urban) for the immediately preceding previous year to such previous year, by notification in the Official Gazette, specify, in this behalf.

CII is notified by the Central Govt. each year in the Official Gazette.





This page was last updated on 7th June, 2017.

1 comment:

  1. How do you compute indexed cost for an asset purchased in year 2000 or prior? An example computation would help

    ReplyDelete

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