Final Cost Inflation Index for FY24 to be fixed at 348

“This notification shall come into force with effect from the 1st day of April 2024 and shall, accordingly, apply in relation to the assessment year 2024-25 and subsequent assessment years” According to the Central Board of Direct Taxes (CBDT) notification. Cost Inflation index is used for calculating long-term capital gains arising from sale of immovable property, securities and jewellery after adjusting inflation when they file income tax returns (ITR) next year.

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