Glossary

Meaning & Definition Face value is the original value of a financial instrument like a share or bond…

Meaning & Definition Cess is a tax levied by the government on income or goods for a specific…

Meaning & Definition The composition scheme is a simplified GST system for small businesses. It allows them to…

Meaning & Definition Deduction is an amount subtracted from taxable income to reduce the tax liability. It helps…

Meaning & Definition Deductions refer to multiple allowable subtractions from taxable income, such as investments, expenses, or donations.…

Meaning & Definition A digital signature for tax filing is an electronic method used to authenticate documents submitted…

Meaning & Definition Double Taxation Avoidance refers to agreements or rules that prevent the same income from being…

Meaning & Definition e-Filing is the process of submitting tax returns and related documents online through the official…

Meaning & Definition Exemption refers to an income or amount that is not subject to tax. Certain incomes,…

Meaning & Definition A financial year is a 12-month period used for accounting and tax purposes. In India,…