New Delhi, July 16 (IANS) The Central Board of Direct Taxes (CBDT) has increased the Cost Inflation Index (CII) for the financial year 2026-27 by 2.3 per cent to 384 from the corresponding figure of 376 in the previous financial year.The CBDT notification was issued on July 15, 2026, and will apply from April 1, 2026, onwards for tax calculations.The Cost Inflation Index, or CII, provides for adjusting the purchase price of assets for inflation when calculating long-term capital gains tax after …
Latest Finance Act News & Updates
New Delhi, April 29 (IANS) In a significant ruling impacting thousands of reassessment cases under the Income Tax Act, the Supreme Court has set aside a series of High Court rulings that had quashed reassessment notices issued by Jurisdictional Assessing Officers (JAOs) and remitted the matters back for fresh adjudication in light of the Finance Act, 2026. A bench of Chief Justice (CJI) Surya Kant, and Justices B.V. Nagarathna and Joymalya Bagchi passed a common order in a batch of thousands of …