Cost Inflation Index for Financial Year 2023-24

Introduction

The Cost Inflation Index (CII) is an important measure used to account for the impact of inflation on the cost of certain capital assets. It helps taxpayers determine the indexed cost of acquisition while calculating eligible long-term capital gains. For the Financial Year 2023-24, the Cost Inflation Index is 348. Understanding the applicable CII value and how indexation works can help taxpayers calculate capital gains more accurately and determine their tax liability when selling eligible capital assets.

Cost Inflation Index for Financial Year 2023-24

The Cost Inflation Index for Financial Year 2023-24 is 348, with FY 2001-02 considered as the base year with a Cost Inflation Index of 100. The CII helps taxpayers adjust the acquisition cost of eligible capital assets for inflation while calculating applicable long-term capital gains.

Latest Update: Cost Inflation Index for FY 2026-27

The Central Government has notified the Cost Inflation Index (CII) for Financial Year 2026-27 at 384 through Notification No. 85/2026 dated 15 July 2026. The notification has been issued under Section 72(8)(a) of the Income-tax Act, 2025 and applies to Tax Year 2026-27 from 1 April 2026 and subsequent tax years.

Readers looking for the latest CII can refer to our complete year-wise Cost Inflation Index table.

Learn more about the Cost Inflation Index for capital gain calculation and understand its meaning, calculation, and year-wise CII values.

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• Cost Inflation Index Guidance: Understand the applicable CII value and how indexation may affect eligible long-term capital gains.
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These services can help taxpayers understand the tax impact of asset transfers and manage related compliance requirements more accurately.