The Central Board of Direct Taxes (CBDT) has notified the Cost Inflation Index (CII) for use in Indexation for computing the Capital Gains during the year 2015-16. The Cost Inflation Index has been notified as

“1081”

The relevant Notification is reproduced below :-

SECTION 48, EXPLANATION (v) OF THE INCOME-TAX ACT, 1961 – CAPITAL GAINS – COMPUTATION OF – NOTIFIED COST INFLATION INDEX FOR FINANCIAL YEAR 2015-16

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 the 20th August, 1998, namely:—

2. In the said notification, in the Table, after serial number 34 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)

“35                   2014-15                              1081”

The Cost Inflation Index from the year 1981-82 to 2015-16 is provided in the below link :

Cost Inflation Index from 1981-82 to 2015-16