NOTIFICATION NO. 86/2008, DATED 13-8-2008
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, having regard to seventy-five per cent of the average rise in the Consumer Price Index for the Financial Year commencing from the 1st day of April, 2007 and ending on the 31st day of March, 2008 for the urban non-manual employees, hereby specifies the Cost Inflation Index for the Financial Year commencing from the 1st day of April, 2008 and ending on the 31st day of March, 2009 and for that purpose further makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes number S.O.709(E), dated the 20th August, 1998, namely:-
In the said notification, in the Table, after serial number 27 and the entries relating, thereto, the following serial number and entries shall be inserted, namely
2008-09 582
1981-82 - 100 1993-94 - 244
1982-83 - 109 1994-95 - 259
1983-84 - 116 1995-96 - 281
1984-85 - 125 1996-97 - 305
1985-86 - 133 1997-98 - 331
1986-87 - 140 1998-99 - 351
1987-88 - 150 1999-00 - 389
1988-89 - 161 2000-01 - 406
1989-90 - 172 2001-02 - 426
1990-91 - 182 2002-03 - 447
1991-92 - 199 2003-04 - 463
1992-93 - 223 2004-05 - 480
2005-06 - 497
2006-07 - 519
2007-08 - 551
2008-09 - 582