The CBDT vide Notification No. 62/2022 – Income-Tax dated June 14, 2022 has issued amendments in Notification No. 44/2017 – Income-Tax dated June 5, 2017 (“N/N 44”), which specified the applicable Cost Inflation Index (“CII”) for certain Financial Years, in order to notify the applicable CII for Assessment Year 2023-2024, w.e.f. April 1, 2023, in a following manner:
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- New SI. No. 22 in N/N 44 has been inserted to notify the applicable CII for Assessment Year 2023-2024, which reads as below:
| Sl. No. | Financial Year | CII |
| 22 | 2022-23 | 331 |
Source: Notification S.O. 2735(E) dated 14.06.2022
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