The Central Board of Direct Taxes has notied vide notification 60/2015 the Cost Inflation Index (CII) for the financial year 2015-16 as 1081
The CII for 2014-15 was 1024. The Board has increased the index by 5.5%.
The CII is used to factor in inflation while calculating capital gain on sale of long term capital assets. The Board has been notifying CII since 1981-82 which was 100.
CA. Roshan Thomas