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An adjustment that increases an asset's purchase cost for inflation before calculating capital gains tax — no longer available for most debt funds after April 2023.
It's like adjusting an old purchase price for inflation before figuring out your 'real' profit, so you're not taxed on gains that are just inflation.
Indexation benefits were removed for debt mutual funds bought after April 2023, making them less tax-efficient than before for long-term holders.