Income tax department has notified Cost inflation index(CII) for the financial year 2013-14. Income tax department issued every year CII figure which shows the inflation figure and it is very useful for calculating capital gain on the sale of the property. Income tax department has issued a notification no. 40 dated 6 June 2013 about the cost inflation index for the financial year 2013-14 and CII is 939. Full notification as well as cost inflation index of 33 years starting from financial year 1981-82 is as follows.
2. In the said notification, in the Table, after serial number 32 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-
Sl. No. Financial Year Cost Inflation Index
(1) (2) (3)
“33 2013-14 939”