What is the base financial year for calculation for Cost Inflation Index under Income Tax Act 1961?

CS Executive · Tax Laws · PYQS · June 2024
What is the base financial year for calculation for Cost Inflation Index under Income Tax Act 1961?
(A) 1999-2000
(B) 2000-2001
(C) 2001-2002
(D) 1980-1981

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax

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