Cost Inflation Index for F.Y. 2009-10

The Government of India has notified the Cost Inflation Index (CII) for the financial year 2009-10 to be 632.The index for the last year was 582.
This concept was started from Financial Year 1981-82 whose index is kept as 100 (base year). From then the Govt. has been continuously notifying the CII for each year based on the level of inflation. This is mainly used for income tax purposes for calculating the value of long term capital gains. The gain/loss on sale of asset is calculated by subtracting from the sale value, the indexed cost of the asset, which is calculated as:

Original Cost of the Asset x Current year CII /CII in the year of purchase

However this index also shows the impact of rising prices. Last year the inflation index rose by 31 points from its previous year. This year the index rose by 50 points from its last year value of 582. Thats quite a substantial margin.

Latest Update on Paypal India Situation

This time it is Farhad Irani - Head in Asia Pacific region. He ensures to resume bank withdrawal facility soon. However, the good news is that funds can be withdrawn through cheque or to a credit card.

This is what the whole blog post from Farhad on thepaypalblog reads:
An Open Letter from Farhad Irani on the Situation in India
Hi. My name is Farhad Irani and I lead the PayPal business in Asia Pacific. As the leader of PayPal’s business in the region and as a fellow Indian, I want you to know that we are sparing no effort in ensuring that the present day inconvenience in not being able to process the bank withdrawal functionality in India for sellers is quickly and completely addressed. This is the single most important item for me and my management team. My sincere apologies for the inconvenience you must be facing.
I’d like to let everyone know that I’m personally committed to working closely and tirelessly with the Reserve Bank of India to get a fast resolution to this issue, so that we can continue to help the thousands of Indian businesses who use PayPal to sell their goods or services in the global marketplace. India is a very special market for me and your continued success is very precious to us.
We were hoping that our merchant customers would be able to start withdrawing their funds at their local bank by today, but it looks like this will still take some more time. I understand your frustration and want to let you know that we are doing everything we can to free your funds.
It has always been possible for sellers to request a check or withdraw funds to a credit card, and these options are still available from the Withdraw Money tab of your PayPal account. If you don’t have a credit card attached to your PayPal account now, you can add one under the Profile section of your PayPal account. Before asking for a credit card withdrawal, please check with your card issuing bank to ensure that they can process it.
It usually takes five to seven working days for you to receive a check when you request a check withdrawal and PayPal normally charges a five USD fee. We are trying our best to help sellers during this difficult time and therefore will refund the check withdrawal fee back to your PayPal account within a week. I appreciate that this is not ideal, but please bear with us.
I’d like to let you know that I’m listening to your concerns. This is my direct PayPal email address: Farhad@paypal.com. Feel free to send me an email.
Farhad

Paypal Restores Transaction Failure Fees on Failed Withdrawals in India

Latest news on Paypal India. Recentely, one of my associates checked his Paypal account and found that it has restored the transaction failure fee which was charged when the attempt to withdraw money to local bank account in India was cancelled.

All this has been done after Reserve Bank of India (India's Central Bank) raised questions as to whether Paypal complies with its laws on cross border payments. The suspension of services was meant only for personal payments, however payments against services have also been stopped. Moreover, Paypal has also suspended withdrawal of money to local bank accounts.

Anuj from Paypal's communication team wrote on thepaypalblog that the suspension could last a few months. However, withdrawals to local banks would start in a few days.