CBDT Notification on Cost Inflation Index for Financial Year 2016-17 / Assessment Year 2017-18
The CBDT vide Notification No. 42/2016 dt 2 June 2016 has notified the Cost Inflation Index (CII) at 1125 for Financial Year 2016-17 / Assessment Year 2017-18, whereas the CII for Financial Year 2015-16 was 1081.
CBDT Notification 42/2016 dt 2 June 2016
In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments 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 35 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-
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