News & Media 27th May 2024

Cost inflation index for FY25 higher than last fiscal’s

Authors

Rahul Charkha Partner | Pune

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The income tax department has notified the cost inflation index (CII) for FY25, relevant to assessment year 2025-26, at 363, which is higher than 348 for FY24, and 331 for FY23. The CII is a tool used to measure inflation for computing long-term capital gains on the sale of assets, including immovable property, securities and jewellery.

The CII adjusts the purchase price of assets to reflect current inflation, ensuring that taxpayers are taxed on real gains rather than nominal gains inflated by general price increases. This adjustment is essential for maintaining a fair and reflective tax system.

Against this backdrop, Our Partner, Rahul Charkha has been quoted in an article, Cost inflation index for FY25 higher than last fiscal’s published by The Financial Express.

Read the detailed story here