Cost Inflation Index notified for FY 2011-12
CENTRAL Government has notified the Cost Inflation Index for FY 2011-2012 as 785.
It may be noted that vide Notification No. S.O. 709(E) dated August 20, 1998 as amended, issued in terms of Explanation (v) of section 48 of IT Act, 1961, Central Government has been notifying the Cost Inflation Indices for respective financial years from time to time with 1981-82 as the base year with CII as 100.
In terms of Explanation (v) of section 48 of IT Act, 1961 ‘Cost Inflation Index' in relation to a previous year, means such Index as the Central Government may, having regard to seventy-five per cent of average rise in the Consumer Price Index for urban non-manual employees for the immediately preceding previous year to such previous year, by notification in the Official Gazette, specify, in this behalf.
CII is applied for computing long term ‘capital gains' on sale of assets in terms of section 48 of IT Act.
The CII from 1981-82:
Sr. No | Financial Year | CII | Sr.No | Financial Year | CII | Sr.No | Financial Year | CII |
|---|---|---|---|---|---|---|---|---|
1 | 1981-82 | 100 | 10 | 1990-91 | 182 | 19 | 1999-00 | 389 |
2 | 1982-83 | 109 | 11 | 1991-92 | 199 | 20 | 2000-01 | 406 |
3 | 1983-84 | 116 | 12 | 1992-93 | 223 | 21 | 2001-02 | 426 |
4 | 1984-85 | 125 | 13 | 1993-94 | 244 | 22 | 2002-03 | 447 |
5 | 1985-86 | 133 | 14 | 1994-95 | 259 | 23 | 2003-04 | 463 |
6 | 1986-87 | 140 | 15 | 1995-96 | 281 | 24 | 2004-05 | 480 |
7 | 1987-88 | 150 | 16 | 1996-97 | 305 | 25 | 2005- 06 | 497 |
8 | 1988-89 | 161 | 17 | 1997-98 | 331 | 26 | 2006-07 | 519 |
9 | 1989-90 | 172 | 18 | 1998-99 | 351 | 27 | 2007-08 | 551 |
28 | 2008-09 | 582 |
29 | 2009-10 | 632 |
30 | 2010-11 | 711 |
31 | 2011-12 | 785 |
CBDT NOTIFICATION NO. 35/2011, Dated: June 23, 2011