Increase in value and betterment charges

(1) The increase in value on account of the completion of a new canal or the improvement or extension of an existing canal shall be the amount by which the value of the land on the completion date is likely to exceed the value of the land on the construction date and the betterment charges shall be one-half of such increase in value. (2) For calculating the value of the land on the construction date and the increase in value on completion date it shall be lawful for the Government to prescribe by Rules the method and the particulars to be taken into account. Explanation.— For the purposes of this section, the Government shall, by notification specify— (a) the date of the commencement of construction of any work in connection with the construction or improvement or extension of canal, as the construction date; (b) the date of completion of the construction, improvement or extension of a canal as the completion date.