The CII table — and why
you probably don't need it.
Indexation was withdrawn for transfers made on or after 23 July 2024 — long-term capital gains are now generally taxed at a flat 12.5% without indexation. CII survives for exactly two purposes: transfers made before 23-Jul-2024 (belated/revised returns, ongoing assessments, appeals), and the land/building grandfathering option — a resident individual or HUF selling land or building acquired before 23-Jul-2024 pays the lower of 12.5% without indexation or 20% with it.
If neither case is yours, the table below is history, not your computation. The full caveat, the complete FY 2001-02 → FY 2026-27 table, and an indexed-cost calculator for the cases that still qualify are all below.
- ✓Transfers on/after 23-Jul-2024: flat 12.5% LTCG, no indexation
- ✓Transfers before 23-Jul-2024: 20% with indexation still applies
- ✓Land/building bought pre-23-Jul-2024: resident individuals & HUFs may pay the lower of the two
- ✓CBDT still notifies CII — first one under the 2025 Act is 384
This is a rate reference, not tax advice. Index values are reproduced from the sources cited on this page as reviewed on 2026-08-19. Whether indexation applies to your transfer at all is the threshold question — see the caveat below — and the calculator here computes indexed cost only, not your capital-gains liability. Confirm every figure against the bare Act, the CBDT notifications and the ITR utility, and take advice on your own facts before acting. Nothing here creates an adviser-client relationship.
What CII still applies to.
MANDATORY CAVEAT: the Finance (No.2) Act, 2024 withdrew indexation for transfers made on or after 23-Jul-2024 — LTCG on all assets is now generally taxed at a flat 12.5% WITHOUT indexation (s.112 as amended). CII therefore no longer applies to the general computation of capital gains for post-23-Jul-2024 transfers. It survives for exactly two purposes: (1) transfers made BEFORE 23-Jul-2024 (belated/revised returns, ongoing assessments, appeals still use the 20%-with-indexation computation); and (2) the grandfathering option in the second proviso to s.112 (inserted 6-Aug-2024): a RESIDENT individual or HUF transferring LAND or BUILDING (or both) ACQUIRED BEFORE 23-Jul-2024 pays the LOWER of 12.5% without indexation or 20% with indexation — the option affects tax computation only (it cannot create/increase a loss for carry-forward or exemption purposes). The Income-tax Act, 2025 carries this scheme forward unchanged: s.197(1) fixes LTCG tax at 12.5%, s.197(3) reproduces the pre-23-Jul-2024 land/building 20%-with-indexation alternative (excess over the 12.5% computation is ignored), and s.72(8)(a) continues the CII definition and CBDT's power to notify it — which is why CBDT still notified CII 384 for FY 2026-27 (Notification 85/2026). A CII page must state that for most taxpayers and most assets sold today, CII is irrelevant.
Cost Inflation Index, FY 2026-27 back to FY 2001-02.
All 26 notified index values, newest first. Base FY 2001-02 = 100.
| Financial year | CII | CBDT notification |
|---|---|---|
| FY 2026-27 | 384 | Notification No. 85/2026-Income Tax dated 15-Jul-2026 — first CII notified under s.72(8)(a) of the Income-tax Act, 2025 |
| FY 2025-26 | 376 | Notification No. 70/2025-Income Tax dated 01-Jul-2025 |
| FY 2024-25 | 363 | Notification No. 44/2024-Income Tax dated 24-May-2024 |
| FY 2023-24 | 348 | Notification No. 21/2023 (widely cited; number not re-verified this session) |
| FY 2022-23 | 331 | — |
| FY 2021-22 | 317 | — |
| FY 2020-21 | 301 | — |
| FY 2019-20 | 289 | — |
| FY 2018-19 | 280 | — |
| FY 2017-18 | 272 | — |
| FY 2016-17 | 264 | — |
| FY 2015-16 | 254 | — |
| FY 2014-15 | 240 | — |
| FY 2013-14 | 220 | — |
| FY 2012-13 | 200 | — |
| FY 2011-12 | 184 | — |
| FY 2010-11 | 167 | — |
| FY 2009-10 | 148 | — |
| FY 2008-09 | 137 | — |
| FY 2007-08 | 129 | — |
| FY 2006-07 | 122 | — |
| FY 2005-06 | 117 | — |
| FY 2004-05 | 113 | — |
| FY 2003-04 | 109 | — |
| FY 2002-03 | 105 | — |
| FY 2001-02 | 100 | — |
Base-year rule: Base FY 2001-02 = 100 (base shifted from 1981-82 by Finance Act 2017). For assets acquired before 1-Apr-2001, cost or FMV as on 1-Apr-2001 may be taken and indexed from 100. Indexed cost = cost × (CII of year of transfer ÷ CII of year of acquisition/improvement).
Only for the cases that still qualify.
Indexed cost = cost × (CII of the year of transfer ÷ CII of the year of acquisition). It matters only in the two cases the caveat names — pick yours first. This computes the indexed cost, not your tax.
Acquired before 1-Apr-2001? Use the cost or the FMV as on 1-Apr-2001 and pick FY 2001-02 (CII 100).
Why this number qualifies: under the grandfathering option (second proviso to s.112; s.197(3) of the 2025 Act), a resident individual or HUF transferring land or building acquired before 23-Jul-2024 pays the lower of 12.5% without indexation or 20% with it. This indexed cost is only the 20%-with-indexation side of that comparison — compute both before choosing. The option affects the tax computation only; it cannot create or increase a loss for carry-forward or exemption purposes.
Where this page is honest about not knowing
- The FY 2023-24 notification number (21/2023 dated 10-Apr-2023) and the notification numbers for earlier years are widely cited but were not re-verified this session. The index values themselves (348 etc.) are confirmed.
- s.197(3) of the Income-tax Act, 2025: the existence and mechanics of the 20%-with-indexation option for pre-23-Jul-2024 land/building are confirmed via commentary (AUBSP and others), but the Act text was not read to confirm the eligibility wording is verbatim limited to resident individuals/HUFs, as it was in the 1961-Act second proviso to s.112 it replaces.
Frequently asked
What is the Cost Inflation Index for FY 2026-27?
384 — notified by Notification No. 85/2026-Income Tax dated 15-Jul-2026, the first CII notified under s.72(8)(a) of the Income-tax Act, 2025. For FY 2025-26 the CII is 376 (Notification No. 70/2025-Income Tax dated 01-Jul-2025) and for FY 2024-25 it is 363 (Notification No. 44/2024-Income Tax dated 24-May-2024).
Does indexation still apply to capital gains?
Generally, no. The Finance (No.2) Act, 2024 withdrew indexation for transfers made on or after 23 July 2024 — long-term capital gains on all assets are now generally taxed at a flat 12.5% without indexation (s.112 of the 1961 Act as amended; s.197(1) of the Income-tax Act, 2025). CII survives for exactly two purposes: transfers made before 23 July 2024, where belated/revised returns, ongoing assessments and appeals still use the 20%-with-indexation computation; and the land/building grandfathering option for resident individuals and HUFs. For most taxpayers and most assets sold today, CII is irrelevant.
Who can still use 20% with indexation on property?
Under the grandfathering option in the second proviso to s.112 (inserted 6-Aug-2024), a resident individual or HUF transferring land or building (or both) acquired before 23 July 2024 pays the lower of 12.5% without indexation or 20% with indexation. The option affects the tax computation only — it cannot create or increase a loss for carry-forward or exemption purposes. The Income-tax Act, 2025 carries this forward in s.197(3), where the excess over the 12.5% computation is ignored. One open point: commentary confirms the mechanics, but the 2025 Act text was not read to confirm the eligibility wording is verbatim limited to resident individuals/HUFs.
How is indexed cost of acquisition calculated?
Indexed cost = cost × (CII of the year of transfer ÷ CII of the year of acquisition or improvement). Example, for a case where indexation still applies: an asset bought in FY 2010-11 (CII 167) for ₹30,00,000 and transferred in FY 2024-25 before 23 July 2024 (CII 363) has an indexed cost of ₹30,00,000 × 363 ÷ 167 ≈ ₹65,20,958.
What about assets bought before 1 April 2001?
The base year is FY 2001-02 = 100 (shifted from 1981-82 by the Finance Act, 2017). For assets acquired before 1 April 2001, you may take the cost or the fair market value as on 1 April 2001, and index from 100.
Why does CBDT still notify a CII if indexation is withdrawn?
Because the two surviving uses still need a current-year index. s.72(8)(a) of the Income-tax Act, 2025 continues the CII definition and CBDT's power to notify it. Pre-23-Jul-2024 transfers still being assessed or appealed use the 20%-with-indexation computation, and the s.197(3) land/building alternative computes indexation up to the year of transfer — which is why CBDT notified CII 384 for FY 2026-27 (Notification 85/2026).
- ClearTax — Cost Inflation Index →
Primary secondary source for the full index table and the base-year rule.
- TaxGuru — CII for FY 2026-27 notified at 384 (Notification 85/2026) →
The FY 2026-27 notification — the first CII notified under s.72(8)(a) of the Income-tax Act, 2025.
- Income Tax India (X) — CII 384 for FY 2026-27 →
Department's own announcement of the FY 2026-27 index.
- RSM India — CBDT notifies CII 376 for FY 2025-26 →
The FY 2025-26 notification (No. 70/2025 dated 01-Jul-2025).
- Income Tax India (X) — CII 363 for FY 2024-25 →
The FY 2024-25 notification (No. 44/2024 dated 24-May-2024).
- BDO India — Capital gains changes under the Finance (No.2) Act, 2024 →
The 23-Jul-2024 withdrawal of indexation and the 6-Aug-2024 land/building grandfathering option.
- AUBSP — Income-tax Act, 2025 s.197 →
s.197(1) 12.5% LTCG rate and the s.197(3) 20%-with-indexation alternative under the 2025 Act.
Last reviewed: 2026-08-19.