Cost Inflation Index (CII) is prescribed by the Central Government (CG) every year for the purpose of computation of capital gains on transfer of long term capital assets wherein the cost of acquisition and/or cost of improvement is allowed to be inflated and claimed against the consideration accruing on transfer of such assets.
The CG, by virtue of Notification No. 35/2011 dated 23 June 2011, has prescribed the CII at 785 for the financial year 2011-12.
The CG, by virtue of Notification No. 35/2011 dated 23 June 2011, has prescribed the CII at 785 for the financial year 2011-12.
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