Cost inflation index for financial year 2014-15

Cost inflation index for the financial year 2014-15 is notified by income tax department. Cost inflation index is very useful to calculate long term capital gains as it saves a lot of amount of tax. Every year income tax department notifies Cost inflation index CII. Income tax department issued notification no. 31 dated 11 June 2014 to issued CII. Full notification and cost inflation index for the last 34 years are as follows.

S.O.1498(E) In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (42 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O.709(E), dated the20th
August,1998, namely:-

2.In the said notification, in the Table, after serial number 33 and the entries relating the following serial number and entries shall be inserted, namely:

S. no.       Financial year       Cost Inflation Index (CII)
34              2014-15                    1024


Financial Year
Cost Inflation index(CII)
2014-15
1024
2013-14
939
2012-13
852
2011-12
785
2010-11
711
2009-10
632
2008-09
582
2007-08
551
2006-07
519
2005-06
497
2004-05
480
2003-04
463
2002-03
447
2001-02
426
2000-01
406
1999-2000
389
1998-99
351
1997-98
331
1996-97
305
1995-96
281
1994-95
259
1993-94
244
1992-93
223
1991-92
199
1990-91
182
1989-90
172
1988-89
161
1987-88
150
1986-87
140
1985-86
133
1984-85
125
1983-84
116
1982-83
109
1981-82
100
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