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Gross Annual Value
The Gross Annual Value (GAV), also called just the Annual Value, of a property which is used in calculating the tax or rent which should be applied to the property. Details In India, the Gross Annual value is the current value, the actual rent (whether received or receivable) or the fair rental value, whichever is highest or which the property might be expected to attract on the open market in ideal circumstances where there is neither a glut nor a shortage of accommodation. The following four factors are taken into consideration while determining the GAV of a property: # The rent payable by the tenant (actual rent) # The municipal valuation of the property # The fair rental value (market value of a similar property in the same area) # The standard rent payable under the Rent Control Act If a property is self-occupied then the GAV is considered to be nil. In Falkirk in Scotland the Gross Annual Value is used to calculate council house rent based on factors such as house type, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia. Modern humans arrived on the Indian subcontinent from Africa no later than 55,000 years ago., "Y-Chromosome and Mt-DNA data support the colonization of South Asia by modern humans originating in Africa. ... Coalescence dates for most non-European populations average to between 73–55 ka.", "Modern human beings—''Homo sapiens''—originated in Africa. Then, int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renting
Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership. An example of renting is equipment rental. Renting can be an example of the sharing economy. History Various types of rent are referenced in Roman law: rent (''canon'') under the long leasehold tenure of Emphyteusis; rent (''reditus'') of a farm; ground-rent (''solarium''); rent of state lands (''vectigal''); and the annual rent (''prensio'') payable for the ''jus superficiarum'' or right to the perpetual enjoyment of anything built on the surface of land. Reasons for renting There are many possible reasons for renting instead of buying, for example: *In many jurisdictions (including India, Spain, Australia, United Kingdom and the United States) rent paid in a trade or business is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Falkirk
Falkirk ( gd, An Eaglais Bhreac, sco, Fawkirk) is a large town in the Central Lowlands of Scotland, historically within the county of Stirlingshire. It lies in the Forth Valley, northwest of Edinburgh and northeast of Glasgow. Falkirk had a resident population of 32,422 at the United Kingdom Census 2001, 2001 UK Census. The population of the town had risen to 34,570 according to a 2008 estimate, making it the List of towns and cities in Scotland by population, 20th most populous settlement in Scotland. Falkirk is the main town and administrative centre of the Falkirk (council area), Falkirk council area, which has an overall population of 156,800 and inholds the nearby towns of Grangemouth, Bo'ness, Denny, Falkirk, Denny, Camelon, Larbert and Stenhousemuir, and the cluster of Falkirk Braes, Braes villages. The town is at the junction of the Forth and Clyde Canal, Forth and Clyde and Union Canal (Scotland), Union Canals, a location which proved key to its growth as a centre o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scotland
Scotland (, ) is a country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a border with England to the southeast and is otherwise surrounded by the Atlantic Ocean to the north and west, the North Sea to the northeast and east, and the Irish Sea to the south. It also contains more than 790 islands, principally in the archipelagos of the Hebrides and the Northern Isles. Most of the population, including the capital Edinburgh, is concentrated in the Central Belt—the plain between the Scottish Highlands and the Southern Uplands—in the Scottish Lowlands. Scotland is divided into 32 administrative subdivisions or local authorities, known as council areas. Glasgow City is the largest council area in terms of population, with Highland being the largest in terms of area. Limited self-governing power, covering matters such as education, social services and roads and transportation, is devolved from the Scott ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council House
A council house is a form of British public housing built by local authorities. A council estate is a building complex containing a number of council houses and other amenities like schools and shops. Construction took place mainly from 1919 after the Housing Act 1919 to the 1980s, with much less council housing built since then. There were local design variations, but they all adhered to local authority building standards. The Housing Acts of 1985 and 1988 facilitated the transfer of council housing to not-for-profit housing associations with access to private finance, and these new housing associations became the providers of most new public-sector housing. By 2003, 36.5% of the social rented housing stock was held by housing associations. History House design in the United Kingdom is defined by a series of Housing Acts, and public housing house design is defined by government directives and central governments' relationship with local authorities. From the first interventi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rates (tax)
Rates are a type of property tax system in the United Kingdom, and in places with systems deriving from the British one, the proceeds of which are used to fund local government. Some other countries have taxes with a more or less comparable role, like France's . Rates by country Australia Local government authorities levy annual taxes, which are called council rates or shire rates. The basis on which these charges can be calculated varies from state to state, but is usually based in some way on the value of property. Even within states, individual local government authorities can often choose the specific basis of rates – for example, it may be on the rental value of houses (as in Western Australia) or on the unimproved land value (as in New South Wales). These rateable valuations are usually determined by a statutory authority, and are subject to periodic revision. Canada Rates are referred to as property taxes in Canada. These taxes are collected primarily by municipal gove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poll Tax (Great Britain)
The Community Charge, commonly known as the poll tax, was a system of taxation introduced by Margaret Thatcher's government in replacement of domestic rates in Scotland from 1989, prior to its introduction in England and Wales from 1990. It provided for a single flat-rate, per-capita tax on every adult, at a rate set by the local authority. The charge was replaced by Council Tax in 1993, two years after its abolition was announced. Origins The abolition of the rating system of taxes (based on the notional rental value of a house) to fund local government had been unveiled by Margaret Thatcher when she was Shadow Environment Secretary in 1974, and was included in the manifesto of the Conservative Party in the October 1974 general election. In the 1979 elections the Conservative manifesto stated that lowering income tax took priority. The Government published a green paper in 1981 under the title ''Alternatives to Domestic Rates''. It considered a flat-rate per-capita tax a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poor Law
In English and British history, poor relief refers to government and ecclesiastical action to relieve poverty. Over the centuries, various authorities have needed to decide whose poverty deserves relief and also who should bear the cost of helping the poor. Alongside ever-changing attitudes towards poverty, many methods have been attempted to answer these questions. Since the early 16th century legislation on poverty enacted by the English Parliament, poor relief has developed from being little more than a systematic means of punishment into a complex system of government-funded support and protection, especially following the creation in the 1940s of the welfare state. Tudor era In the late 15th century, parliament took action on the growing problem of poverty, focusing on punishing people for being "vagabonds" and for begging. In 1495, during the reign of King Henry VII, Parliament enacted the Vagabond Act. This provided for officers of the law to arrest and hold "all such ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax In India
Income tax in India is governed by Entry 82 of the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income; agricultural income is defined in Section 10(1) of the Income-tax Act, 1961. Income-tax law consists of the 1961 act, Income Tax Rules 1962, Notifications and Circulars issued by the Central Board of Direct Taxes (CBDT), annual Finance Acts, and judicial pronouncements by the Supreme and high courts. The government taxes certain income of individuals, Hindu Undivided Families (HUF's), companies, firms, LLPs, associations, bodies, local authorities and any other juridical person. Personal tax depends on residential status. The CBDT administers the Income Tax Department, which is part of the Ministry of Finance's Department of Revenue. Income tax is a key source of government funding. The Income Tax Department is the central government's largest revenue generator; total tax revenue increased ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (also called cooperative property). Property that jointly belongs to more than one party may be possessed or controlled thereby in very similar or very distinct ways, whether simply or complexly, whether equally or unequally. However, there is an expectation that each party's will (rather discretion) with rega ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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