The Finance Ministry has notified 280 as the cost inflation index (CII) number for FY 2018-19. This CII number is important as it will be used to compute inflation adjusted long-term capital gains (LTCG) on assets such as house, gold, debt mutual funds etc. accrued in FY 2018-19 and consequently impacts the amount of tax payable on them. Tax on such LTCG is calculated at the rate of 20 percent of the gain after indexation.The notification for the CII for FY 2018-19 is dated 5 June, 2018.CII number is used to compute the inflation-adjusted purchase cost of an asset in order to calculate LTCG on it when it is sold. Therefore, it is important to save these numbers as you will require them while calculating LTCG for assets you will sell in FY 2018-19.

Source - https://economictimes.indiatimes.com