« Top Headlines » Open DEMAT Account in 24 hrs  Tax planning for 2025: How to maximise your savings before March 31 deadline  New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha  5 major changes in the last 6 months every taxpayer should know!  Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch  Top 10 income tax changes from 2024 to look out for while filing ITR in 2025 «  MNCs may get to sign advance pricing pacts... Cost Inflation Index grows five-fold in 25 years... » Cost inflation index pegged at 519 September, 23rd 2006 The Central Board of Direct Taxes (CBDT) has pegged the cost inflation index for the financial year 2006-07 at `519'. This index is useful for income-tax assessees in the computation of tax on long-term capital gains (for indexation purposes). The income-tax law requires the CBDT to specify the cost inflation index for a financial year after factoring in a 75 per cent of average rise in consumer price index for urban non-manual employees for the immediately preceding previous year. For the financial year 2005-06 and 2004-05, the Finance Ministry had pegged the cost inflation index at `497' and `480' respectively. The base year for the cost inflation index is 1981-82 (100).