How to determine average gross annual income of last three consecutive years. Last three annual years will be considered or 36 months will be taken into account?
6 months ago
How to determine average gross annual income of last three consecutive years. If a person apply for RBA certificate in september, 2023. What period should be taken for determination of average gross annual income? Last three annual years will be considered or 36 consecutive months upto date of application for RBA certificate will be taken into account? Please Explain in detail.
A.Dear Client,
RBA certificate means Resident of backward area certificate. Affidavit to the effect that the applicant has not obtained a Permanent Residence Certificate earlier. The Govt. under SRO 294 has provided certain concessions to the residents living in backward areas. Such certificates to the migrants are being issued by the Relief Organisation. Documents required for issuing of Resident of Backward Area certificate: Migration proof (Copy of Ration Card). Sufficient proof indicating that the family of the applicant was living in the area notified as backward for 15 years continuously prior to migration. Income certificate (Annual family income should be less than Rs. 3 Lacs). However, the income ceiling shall not apply to a person who has lived and completed their entire school education in an area identified as a backward or actual line of control, as the case may be, and in case such schooling is not available in such area, from the nearest adjoining area.
RBA certificate means Resident of backward area certificate. Affidavit to the effect that the applicant has not obtained a Permanent Residence Certificate earlier. The Govt. under SRO 294 has provided certain concessions to the residents living in backward areas. Such certificates to the migrants are being issued by the Relief Organisation. Documents required for issuing of Resident of Backward Area certificate: Migration proof (Copy of Ration Card). Sufficient proof indicating that the family of the applicant was living in the area notified as backward for 15 years continuously prior to migration. Income certificate (Annual family income should be less than Rs. 3 Lacs). However, the income ceiling shall not apply to a person who has lived and completed their entire school education in an area identified as a backward or actual line of control, as the case may be, and in case such schooling is not available in such area, from the nearest adjoining area.
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A.Dear
The determination of the average gross annual income for obtaining a Rural Backward Area (RBA) certificate in India typically involves considering the income of the applicant over the last three consecutive financial years. However, the exact method for calculating this average income may vary from one state to another. It's important to check the specific guidelines and requirements of the state in which you are applying for the RBA certificate, as different states may have different rules and interpretations of income calculation.
In most cases, the following steps are taken into account:
Selecting the Financial Years: To calculate the average income, you would generally consider the income earned during the last three consecutive financial years. Financial years in India typically run from April 1st to March 31st of the following year. For example, if you are applying for the RBA certificate in September 2023, you would usually consider the financial years 2020-2021, 2021-2022, and 2022-2023.
Determining Gross Annual Income: For each of the selected financial years, calculate the gross annual income. Gross annual income typically includes all sources of income, such as salary, business income, agricultural income, and any other sources of income that the applicant has.
Calculating the Average: Add up the gross annual incomes for the three selected financial years and then divide the total by three to obtain the average gross annual income.
Please note that certain sources of income, such as agricultural income, may have specific rules or exemptions in different states. It's essential to consult with the relevant authorities or follow the guidelines provided by the state's revenue department for the most accurate and up-to-date information regarding income calculation for the RBA certificate.
Regards
The determination of the average gross annual income for obtaining a Rural Backward Area (RBA) certificate in India typically involves considering the income of the applicant over the last three consecutive financial years. However, the exact method for calculating this average income may vary from one state to another. It's important to check the specific guidelines and requirements of the state in which you are applying for the RBA certificate, as different states may have different rules and interpretations of income calculation.
In most cases, the following steps are taken into account:
Selecting the Financial Years: To calculate the average income, you would generally consider the income earned during the last three consecutive financial years. Financial years in India typically run from April 1st to March 31st of the following year. For example, if you are applying for the RBA certificate in September 2023, you would usually consider the financial years 2020-2021, 2021-2022, and 2022-2023.
Determining Gross Annual Income: For each of the selected financial years, calculate the gross annual income. Gross annual income typically includes all sources of income, such as salary, business income, agricultural income, and any other sources of income that the applicant has.
Calculating the Average: Add up the gross annual incomes for the three selected financial years and then divide the total by three to obtain the average gross annual income.
Please note that certain sources of income, such as agricultural income, may have specific rules or exemptions in different states. It's essential to consult with the relevant authorities or follow the guidelines provided by the state's revenue department for the most accurate and up-to-date information regarding income calculation for the RBA certificate.
Regards
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