Not only is divorce a psychologically messy affair, but it can also have profound financial repercussions – after all, what is a marriage if not an investment of time, energy, emotions and even money!
If you are contemplating a breakup or if you are someone who wants to keep up to date on divorce proceedings, here’s what exactly is alimony and how it is calculated in India.
What is maintenance?
Upkeep (maintenance, support or upkeep) is that financial assistance given to a spouse after divorce. Generally, it is provided when a spouse does not have sufficient resources to meet the basic needs of life. Although, According to the law, maintenance can be granted to any spouseAs a rule, it must be given by the husband to his wife.
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Who is entitled to maintenance?
Under Section 25 of the Hindu Marriage Act, the court grants the wife or even the husband permanent alimony for their support and maintenance. If the woman is a working woman but there is a significant difference between the net income of her husband and her husband, she will continue to receive maintenance so that she can maintain the same standard of living as her husband.
If the woman is not earning, the court will take into account her age, educational qualifications and earning potential to determine the amount of maintenance. If the husband is disabled and unable to earn, and the wife deserves, the court grants maintenance to the husband.
How is maintenance calculated?
There is no set formula or rule for calculating the alimony that the husband must provide to his wife. Maintenance can be granted as a regular or monthly payment or as a one-off payment in the form of a lump sum.
If the maintenance is paid monthly, the The Supreme Court of India has set 25% of the husband’s monthly net salary as the reference amount tHat should be granted to the woman. There is no such one-time billing benchmark, but usually there is The amount is between 1/5 and 1/3 of the husband’s net worth.
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However, there are certain factors that the court takes into account when calculating the maintenance amount. Such factors can be varied and include:
Husband and wife income and other characteristics, if any
Behavior of both man and woman
Mandatory deductions such as income tax, EMI, loan repayments, etc. are used to calculate the husband’s net income
Husband’s liability, such as B. Dependent parents
Social status and lifestyle of both parties
Age and health status of both parties
The length of time the couple was married
Expenses for education and upbringing of the child (s)
On the basis of a number of factors, which depend on the particular circumstances and facts of the individual case, the court decides on the amount of maintenance to be granted.
Note: The above information is general in nature and is intended for educational purposes only. Nothing here is to be understood as investment, financial or tax advice, or as an invitation or solicitation. Readers are advised to exercise discretion and seek advice from an independent professional before making financial or legal decisions.