CBDT Notifies the Cost Inflation Index as 785 for financial year 2011-12

CLR Note: As per notification below mentioned, the Central Government having regard to seventy-five per cent. of the average rise in the Consumer Price Index for urban non-manual employees, hereby specifies the Cost Inflation Index as 785 for financial year 2011-12.

Ministry of Finance

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

(INCOME TAX)

In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of Government of India in the Ministry of Finance (Department of Revenue) Central Board of Direct Taxes No. S.O. 709(E), dated 20th August 1998, namely: –

In the said notification in the Table, after serial number 30 and the entries relating thereto the following serial number and entries shall be inserted, namely: –

“31                         2011-2012         785”

Notification No. 35/2011/F. No. 142/5/2011-TPL