Notification No. 60 /2015 [F.No.142/10/2015-TPL] / SO 2031(E)

What it does

The Central Government, under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961, further amends the cost inflation index notification S.O. 709(E) dated 20 August 1998. In the Table, after serial number 34, a new serial number 35 is inserted giving the Cost Inflation Index of 1081 for the financial year 2015-16.

Who it reaches

Persons computing long-term capital gains on transfers made in the financial year 2015-16
Chartered accountants and valuers preparing capital gains computations
Assessing officers verifying indexed cost of acquisition and improvement

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.3	s.3
s.48	s.2, s.72

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES
NOTIFICATION
INCOME-TAX

New Delhi, the 24th July, 2015
S.O. 2031 (E)- 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 further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-

2. In the said notification, in the Table, after serial number 34 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

Sl. No. Financial Year Cost Inflation Index
(1) (2) (3)
"35 2015-16 1081".

[Notification No. 60 /2015/F.No.142/10/2015-TPL]
[Gaurav Kanaujia]
Director to the Government of India

Note:- The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(ii), vide number S.O.709(E), dated the 20th August, 1998 and last amended vide number S.O. 1498(E), dated the 11th June, 2014.

From when

Not stated in the extract.

What to watch

The extract states no separate commencement date beyond the date of the notification.
Only the entry for financial year 2015-16 is added; the earlier entries in the Table are unchanged.
The principal notification was last amended by S.O. 1498(E) dated 11 June 2014, which supplied the preceding year's index.

Where you meet it

In the capital gains computation for a transfer made in the financial year 2015-16, where indexed cost is worked out under the second proviso to section 48.

An example

Ours, not the Board’s: a worked case built from the rule the instrument sets, to show how it falls out.

For an asset transferred in the financial year 2015-16, the indexed cost of acquisition is the cost multiplied by 1081 and divided by the Cost Inflation Index of the year in which the asset was first held.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 94/2026 [F. No. 370142/24/2026-TPL] / G.S.R. 646(E) : Income-tax (Second Amendment) Rules, 2026 : Amendment of rule 157 of the Income tax Rules, 2026 to align the definition of the specified fund with rule 114AAB of the Income tax Rules, 1962 — Ministry of Finance 21 July 2026
Notification No. 64 — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 7 16 April 2026
Notification No. 63/2026 [F. No. 370142/13/2026-TPL]/ GSR 268(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026
Notification No. 62/2026 [F. No. 370142/10/2026-TPL]/ GSR 267(E) — Ministry of Finance 10 April 2026
Notification No. 61/2026 [F. No. 370142/9/2026-TPL] / GSR 266(E) — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 10 April 2026
Notification No. 60/2026 [F. No. 370142/8/2026-TPL]/ GSR 265(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026

← Notification No.61/2015 [F.No.142/1/2015-TPL] / SO 2070(E) · Notification No. 198/2015 [F.No.V.27015/2/2015-SO(NAT.COM)] / SO 1985(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.

What this is