« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?  Full List Of Trump's Reciprocal Tariffs Announced Wednesday  Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025  5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025  March 15 is deadline for last advance tax installment: Know if you must pay «  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).