Customs Duty definition: We shall look into its various aspects such as how Customs Duty is calculated, different categories that…
Reverse Repo Rate definition: The Reverse Repo Rate is an important Monetary Policy tool used by the Reserve Bank of…
Anti-Lock Braking System meaning, benefits: How does Anti-Lock Braking System work? Do ABS brakes stop faster? Which is better ABS…
Power steering meaning: The steering system of a vehicle is one of its key components. In a hydraulic power steering…
Receipt Budget meaning: The Receipt Budget is an extensive document prepared as a part of the Union Budget of India…
Securities Transaction Tax meaning: Securities Transaction Tax, also referred to as STT, is a tax that is levied on the…
Revenue Deficit definition: Revenue deficit arises when the government’s revenue expenditure exceeds the total revenue receipts.
Income from House Property in India: The income arising out of a house property either in the form of a…
Income Tax simple definition: Wondering what is income tax and how does it work? Income tax in India is a…
Centrally Sponsored Scheme meaning: The category of centrally sponsored schemes comprises programmes that have a national character or a regional…
Non Tax Revenue definition: While taxation is a primary source of income for the government, it also earns some recurring…
Demand for Grants definition: Wondering what demand for grants is all about? It is a well established principle among modern…
Dividend Distribution Tax definition: The Dividend Distribution Tax is a tax levied on dividends that a company pays to its…
Non Debt Capital Receipts definition: Taxes and duties levied by the government form the biggest source of its income or…
The Consolidated Fund of India includes revenues, which are received by the government through taxes and expenses incurred in the…
Disinvestment in India meaning: Disinvestment means sale or liquidation of assets by the government, usually Central and state public sector…
Long Term Capital Gains Tax meaning: Long Term Capital Gains Tax or LTCG Tax is the tax levied on the…
Repo Rate meaning: Repo Rate, or repurchase rate, is the key monetary policy rate of interest at which the central…
