Definition: In the simplest sense, income tax is a tax imposed on the income of persons, earned by them in the previous year. It is a composite tax on the total of income derived from multiple sources. To compute the tax, income is classified into different slabs and tax is charged as per the rate of the concerned slab. It is majorly classified into: Personal Income Tax: … [Read more...] about Income Tax
NEFT Transaction Timings
When it comes to NEFT transaction timings there is no specific timing during the course of which you can transfer your money. This means that this facility is available round the clock. Moreover, NEFT is the easiest and most convenient way of transferring funds. This is a payment system which the country's central bank owns and operates. And apart from fund transfer, one can … [Read more...] about NEFT Transaction Timings
National Electronic Funds Transfer (NEFT)
Definition: NEFT expands to National Electronic Fund Transfer is a facility that banks provide to its customer. The central bank of India has started this online payment system in November 2005. Using this facility, a person can transfer funds online from one NEFT-enabled bank account to another. It allows near real-time transfer of funds to the beneficiary account. Also, it … [Read more...] about National Electronic Funds Transfer (NEFT)
Company Secretary (CS)
Definition: Company Secretary (CS) refers to an individual who is a member of ICSI and possesses the requisite qualifications as stated under the law. His/Her position in the organizational hierarchy is pivotal. A CS occupies a high status and position in an organization. To be specific, his/her position is almost equivalent to managing director or general manager. The … [Read more...] about Company Secretary (CS)