income tax department

The Indian income tax department has released the cost inflation index (CII) for the current fiscal year, set at 348, compared to the previous year's 331. The CII is used to determine long-term capital gain liability on the sale or transfer of assets such as property, trademarks, patents, and shares. The index is used to adjust the purchase price of an asset based on inflation, … [Read more...] about Capital gains tax responsibility poised to decrease