Meaning of Cost Inflation Index
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Before Amendment |
After Amendment |
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Cost Inflation Index” (CII) in relation to a previous year, to mean such index as may be notified by the Government having regard to 75% of average rise in the Consumer Price Index (CPI) for urban non-manual employees (UNME) for the immediately preceding previous year to such previous year. |
Cost Inflation Index” in relation to a previous year shall mean such index as may be notified by the Central Government having regard to 75% of average rise in the Consumer Price Index (Urban)
for the immediately preceding previous year to such previous year
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Meaning of Cost Inflation Index
Cost Inflation Index” (CII) in relation to a previous year, to mean such index as may be notified by the
Government having regard to 75% of average rise in the Consumer Price Index
(CPI) for urban non-manual employees (UNME) for the immediately preceding previous year to such previous year.
Effect of Amendment
(iii) Since the release of CPI for UNME has been discontinued, accordingly, clause (v)
of the Explanation to section 48 has been amended
