Buying your own home for the first time can be quite a tiring and overwhelming experience of your life. It is quite a landmark in your independent life to actually own a house. Thus, you would want to be very careful and cautious while taking such a big decision. You will have to overthink and analyze various aspects. So if you are planning to buy a house in India for the first time, here are 10 things you need to check that may help you in making a better and informed decision:
Monthly Archive: July 2014
Modi’s decision of combining various industries will save India a huge cost. Reportedly, a single Cabinet Minister has a personal staff of 15, and a Minister of State has 13 staff members. In addition to the salary of the ministers, his/her staff costs an additional expense of 10 lakhs per month to the Indian government. The expenses of a minister do not end here as another 10 lakh is spend every month on his/her office, residence and luxuries. The Centre monthly spends approximately Rs. 20 lakhs excluding the minister’s salary on any minister. By Modi’s thoughtful decision of combining ministries, BJP-led government will be saving Rs. 2,50,00000 on an individual minister.
The state is going for elections this year end, so if BJP can be able to form a majority Govt., only then it has power and freedom to got permission from J&K assembly to get resolution passed to remove Article 370, but it still hard nut to crack not impossible.
BRICS Development Bank is basically a proposed multilateral development bank which is to be operated by emerging developing countries named Brazil, Russia, India, China and South Africa that together constitute the BRICS consortium. Each of these nations account for about 1/5th of the economic activity in the world. They along with other non-developed countries have had painful encounters with the financial dominance of the West where they have been forced to make painful cuts in their budget and meet the stringent criteria to avail emergency loans from the International monetary fund (IMF) and World Bank.
In a layman’s term, the civil code is designed to cover the body of laws protecting and governing the right of the people in relation to property and otherwise, in personal affairs related to divorce, marriage, adoption, inheritance and maintenance.
CIBIL stands or Credit Information Bureau (India) Ltd. It is the first credit information company in the country that gathers and maintains the individual’s as well as commercial entities’ records of payments related to credit cards and loans. This information is basically presented to CIBIL on a monthly basis by banks and other lenders.
In countries which are headed and governed by the Sunnis, Shias become a part of the poorest section of the society. They feel oppressed and victimized. There are instances where the extremist Sunni doctrines have hate speech for the Shias. This leads to the conflict between the two communities. Differences in ideologies,social structure and economic disparity.
As per the taxation system in India, an assessee whose total salary is more than the maximum exemption limit is chargeable to income tax according to the rate(s) mentioned in the Finance Act. An assessee can be either an individual, Association of persons, Hindu Undivided Family, Body of Individuals, firm, company, local authority or any artificial judicial person not belonging to any of these categories.According to the data of 2011-12, there are a total of 3.10 crore individual assesses, 12.29 lacs firms, 4.96 companies, 1.19 lacs trusts, 7.61 lacs Hindu Undivided Family assesses and 95.84 other assesses. Roughly 89% of the tax payers belong to the INR 0 to 5 lacs slab, nearly 5.5% of them belong to the INR 5 to 10 lacs slab and about 1.3% of the tax payers are from the slab of above INR 20 lacs. Also, as per the recent records, only 5% people, who are mostly salaried, pay their income tax.
Next, let us understand what Provident Fund is. It is basically a fund that has been constitutes of the contributions made an employee throughout the time he or she was working along with an equal contribution made by the employer. Only employees with a basic salary of up to INR 6,500 have to make the contribution while the employers with basic salary above this amount are presented with the option of becoming the member of PF