Electronic Verification Code – EVC for Validating Income Tax Returns from A.Y 2013-14
July 21, 2015
CBDT Notifies new Forms – ITR-3, ITR-4, ITR-5 ITR-6 & ITR -7 for A.Y. 2015-16
July 31, 2015
Show all

Cost Inflation Index for the year 2015-16 is 1081

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

Leave a Reply

Your email address will not be published. Required fields are marked *