Education Cess: Meaning, Calculation & Usage
Introduction to Educational Cess It refers to an additional tax imposed by the government on taxpayers in order…
Standard Deduction: Meaning, Definition, and Benefits for Taxpayers
What is Standard Deduction? Along with all the taxes imposed under the Income Tax Act, the provision also…
Exempt Income: Definition, Meaning, and Tax Exemptions
What is Exempt Income Exempt income refers to the income that is not subject to any tax by…
Financial Literacy: Meaning & Benefits
What is Financial Literacy? Financial literacy refers to the ability of understanding and applying various financial concepts and…
What is Book Building?: Definition, Process and Advantages
Understanding Book Building Book building is a process used by a company that appoints an underwriter (that is…
Capital Gearing: Definition, Meaning, and Types of Capital Gearing
Understanding Capital Gearing Capital gearing refers to the ratio of a company’s debt to its equity. Also known…
Meaning and Importance of Legal Tender
What is Legal Tender? Legal tender refers to the type of currency that the government has officially declared…
LIBOR (London Interbank Offer Rate): Meaning, Calculation and Uses
What does LIBOR Mean? LIBOR stands for London Interbank Offered Rate. It is a benchmark for short-term interest…
Capital Account: Meaning, Working & Importance
What is a Capital Account? Capital refers to cash or assets (such as machinery, account receivables, property) of…
Income: Definition, Meaning, Types, and Importance
What is Income? In simple terms, income refers to the money one gains in exchange for a product…