What is
What is Cash Reserve Ratio (CRR)?
Cash Reserve Ratio (CRR) RBI meaning, CRR rate: The Cash Reserve Ratio in India is decided by RBI's Monetary Policy Committee in the periodic Monetary and Credit Policy.
What is Protem Speaker?
Protem Speaker definition: There are several instances when the Supreme Court had to issue orders directing a Protem Speaker to be appointedin a state legislative assembly to carry out specific functi
What is Finance Bill?
Finance Bill meaning: The Finance Bill is a part of the Union Budget, stipulating all the legal amendments required for the changes in taxation proposed by the Finance Minister.
What is Short Term Capital Gains Tax?
Short Term Capital Gains Tax meaning: The gain or profit from the sale of assets is classified as a capital gain. The tax for this capital gain needs to be paid in the year that the asset transfer tak
What is Form 16?
Form 16 meaning, Form 16A, Form 16B download: Form 16 is a crucial document for a salaried individual, especially if the employer has deducted tax on income.
What is Fiscal Policy in India?
Fiscal policy in India: Fiscal policy is the guiding force that helps the government decide how much money it should spend to support the economic activity, and how much revenue it must earn from the
What is Section 80C of Income Tax Act 1961?
Section 80C explained: Did you know that Section 80C, under the Income Tax Act 1961, helps you reduce the tax burden by allowing a deduction from the total taxable income in a financial year? Section
What is Expenditure Budget?
Expenditure Budget definition: Expenditure Budget provides complete information about the total expenditure of the Union government in a financial year.
What is Customs Duty?
Customs Duty definition: We shall look into its various aspects such as how Customs Duty is calculated, different categories that you need to be familiar with.
What is Reverse Repo Rate?
Reverse Repo Rate definition: The Reverse Repo Rate is an important Monetary Policy tool used by the Reserve Bank of India (RBI) to control liquidity and inflation in the economy.
What is Anti-Lock Braking System?
Anti-Lock Braking System meaning, benefits: How does Anti-Lock Braking System work? Do ABS brakes stop faster? Which is better ABS or non-ABS? In this definition of the Anti-Lock Braking System, we se
What is Power Steering?
Power steering meaning: The steering system of a vehicle is one of its key components. In a hydraulic power steering system, the effort required to turn the wheel of a vehicle by the rotation of the s
What is Receipt Budget?
Receipt Budget meaning: The Receipt Budget is an extensive document prepared as a part of the Union Budget of India exercise to showcase the break-up of the government's receipts from various income s
What is Securities Transaction Tax?
Securities Transaction Tax meaning: Securities Transaction Tax, also referred to as STT, is a tax that is levied on the purchase or sale of shares and other trade-able securities of the companies list
What is Revenue Deficit?
Revenue Deficit definition: Revenue deficit arises when the government's revenue expenditure exceeds the total revenue receipts.
What is Income from House Property?
Income from House Property in India: The income arising out of a house property either in the form of a rental income or on its transfer is referred to as 'income from house property'.
What is Income Tax?
Income Tax simple definition: Wondering what is income tax and how does it work? Income tax in India is a tax paid by individuals or entities depending on the level of earnings or gains during a finan
What is Centrally Sponsored Scheme?
Centrally Sponsored Scheme meaning: The category of centrally sponsored schemes comprises programmes that have a national character or a regional character.
What is Non Tax Revenue?
Non Tax Revenue definition: While taxation is a primary source of income for the government, it also earns some recurring income other than tax, which is called non-tax revenue.
What is Demand for Grants?
Demand for Grants definition: Wondering what demand for grants is all about? It is a well established principle among modern democracies that no money can be withdrawn from the exchequer of the countr
What is Dividend Distribution Tax?
Dividend Distribution Tax definition: The Dividend Distribution Tax is a tax levied on dividends that a company pays to its shareholders out of its profits.
What is Non Debt Capital Receipts?
Non Debt Capital Receipts definition: Taxes and duties levied by the government form the biggest source of its income or receipts.
What is Consolidated Fund of India?
The Consolidated Fund of India includes revenues, which are received by the government through taxes and expenses incurred in the form of borrowings and loans.
What is Disinvestment?
Disinvestment in India meaning: Disinvestment means sale or liquidation of assets by the government, usually Central and state public sector enterprises, projects, or other fixed assets.
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Budget 2020
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