Cost Inflation Index 2024-25: Impact on Tax Calculations and Compliance
Income Tax Department Sets Cost Inflation Index for FY 2024-25 The Income Tax department has announced the Cost Inflation Index (CII) for the financial year 2024-25, setting it at 363. This index is essential for taxpayers as it helps in accurately calculating long-term capital gains by adjusting for inflation. Importance of Cost Inflation Index (CII)…