Tatkal EB Power Connection – Gujarat

In a bid to satisfy farmers’ growing demand for power connections , Gujarat chief minister Narendra Modi had announced tatkal scheme in Nov’13. Under the new immediate power connection scheme, applicants will have to bear 80 per cent of the power connection costs(1 time) and will also have to adopt drip irrigation technique. Very innovative method and it forces farmer to minimize over pumping of ground water.

Read circular. http://www.pgvcl.com/IMPORTANT%20CIRCULARS/Tatkal-13.pdf

 

 

Capital Gain through Land Sale

When you sell your land, capital gain is calculated after applying inflation to purchase price. Govt of India has captured inflation index since 1981.

Gain = Sell Price -(Purchase Price*Indexed for Inflation)

Lets look at example. If you had bought agri land for registered price of 1 Lakh/acre in year 2000 and sold for registered price of 5 lakh/acre in year 2013,what would be capital gain as per Govt of India? . Convert purchase price in today’s terms –> 939/406 =2.3 (Index in 2013 divide by index in 2000). So you have multiply your purchase price by 2.3 times. This factor can be availed only if you had sold land after 3 yrs

Capital Gain would be = 5 L-(1 L *2.3) =2.7 Lakhs .  You will have to pay 20% tax on the profit. Common people tend to think that profit is 4 lakhs(5-1) but it is not. Suppose you had spent 0.5L for improvements in 2000,it is actually 1.15L(0.5*2.3). Tax(20%) would be simply on 2.7 gain minus 1.15 improvement =1.55L

Cost inflation index

Financial Year Cost Inflation Index Financial Year Cost Inflation Index
1981 – 82 100 1997 – 98 331
1982 – 83 109 1998 – 99 351
1983 – 84 116 1999 – 00 389
1984 – 85 125 2000 – 01 406
1985 – 86 133 2001 – 02 426
1986 – 87 140 2002 – 03 447
1987 – 88 150 2003 – 04 463
1988 – 89 161 2004 – 05 480
1989 – 90 172 2005 – 06 497
1990 – 91 182 2006 – 07 519
1991 – 92 199 2007 – 08 551
1992 – 93 223 2008 – 09 582
1993 – 94 244 2009 – 10 632
1994 – 95 259 2010 – 11 711
1995 – 96 281 2011 – 12 785
1996 – 97 305 2012-13 852
2013 – 2014 939