As per clause (of the explanation to section 48, “cost inflation index” in relation to previous year means such index as the Central Government may, by notification in the Official Gazette, specify in this behalf, having regard to % of average rise in Consumer price index (Urban) for the immediately preceding previous year to such previous year.
A. 40%
B. 65%
C. 75%
D. 90%
Answer:C
As per clause (of the explanation to section 48, “cost inflation index” in relation to previous year means such index as the Central Government may, by notification in the Official Gazette, specify in this behalf, having regard to % of average rise in Consumer price index (Urban) for the immediately preceding previous year to such previous year.
A. 40% B. 65% C. 75% D. 90%