What is the meaning of family income when applying for Govt. housing lottery or scheme?
How to determine the family income for applying various Government schemes?A question always makes an applicant confused and check this page to know from our ISC experts.
Whenever a State Govt. issues a notification for a housing scheme or when the Central Govt. issues a loan scheme, the application may mention the income category under which to apply, with the specific words "family income". I would like to know what does this mean?
As per my understanding, family income only refers to the spouse & kids' income together with the income of the applicant. So what about when there is no spouse & kids in the family at all? Can the applicant's single individual income be the basis to decide the income category under which to apply for the housing scheme? Or is it that the income of the other unmarried members of the family who stay together should also be considered? Please clarify.