« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  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).