CBDT notified the applicable Cost Inflation Index for Assessment Year 2023-24

The CBDT vide Notification No. 62/2022 – Income-Tax dated June 14, 2022 has issued amendments in Notification No. 44/2017 – Income-Tax dated June 5, 2017 (“N/N 44”), which specified the applicable Cost Inflation Index (“CII”) for certain Financial Years, in order to notify the applicable CII for Assessment Year 2023-2024, w.e.f. April 1, 2023, in a following manner - 

• New SI. No. 22 in N/N 44 has been inserted to notify the applicable CII for Assessment Year 2023-2024, which reads as below:

Sl. No.	Financial Year	CII
22	2022-23	331

The Notification can be accessed at - https://egazette.nic.in/WriteReadData/2022/236565.pdf