The Central Board of Direct Taxes (CBDT) has recently notified the Cost Inflation Index (CII) for Financial Year 2024-25 to calculate Long-Term Capital Gains (LTCG).
About Cost inflation index (CII):
- CII is notified annually under the Income-tax Act, 1961 and reflects economic inflation, helping taxpayers adjust their gains from the sale of capital assets against inflation.
Other key facts:
- LTCG refers to the profit from the sale of a capital asset, such as securities or jewellery, retained for 12 to 36 months based on the asset type.
Ref: Source
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