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The Central Board of Direct Taxes has clarified that the General Anti Avoidance Rules (GAAR) will not apply to income from investments made before April 1, 2017, addressing concerns about retrospective applicability. This amendment ensures longstanding clarity for investors while retaining GAAR's application to post-2017 arrangements. The Central Board of Direct Taxes (CBDT) has introduced a significant clarification regarding the applicability of the General Anti Avoidance Rules (GAAR), sparki ...Read More >
New Delhi, July 2 (SocialNews.XYZ) The Central Board of Direct Taxes (CBDT) has increased the cost inflation index (CII) used for calculating inflation-adjusted asset prices, allowing taxpayers to claim greater relief on long-term capital gains. As per the latest notification, the CII has been revised to 376 for the financial year 2025-26 (FY26), up from 363 in the previous year. The cost inflation index helps adjust the purchase price of an asset to account for inflation. This adjustment red ...Read More >
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