Re-KYC stands for Renewal of Know Your Customer. It is a process where banks or financial institutions update…

SEZ stands for Special Economic Zone. These are areas in India that are treated as separate economic zones…

IRN stands for Invoice Reference Number in the GST system. It is a unique number generated for every…

EVC stands for Electronic Verification Code. It is a one-time password (OTP) used for the GST system to…

DRC stands for Demand and Recovery Case in the Goods and Services Tax (GST) system. It is a…

What is a Holding Company? A holding company is a business corporation or limited liability company (LLC) that…

Understanding Royalty A royalty is a contractual payment made to the individual or company of a particular asset…

Understanding Corporation A corporation is a type of legal entity that is separate from its owners. Created under…

What is Insurable Interest? Insurable Interest is a financial stake or potential loss that a person or entity…

Introduction to Surcharge If any individual falls in the higher income category, the Income Tax Department of India…