Asset reconstruction companies (ARCs) is a type of finance company in India. They were formed as part of steps taken by the Government to clean up the balance sheets of banks and financial institutions and help revive the credit and investment cycle in India. The ARC industry was born out of the Recapitalization and Financial Services […]
The goods and service tax (GST) introduced a new concept of Input Tax Credit capital goods which is similar to that of VAT but with an important difference that the former will allow a set-off only on output rather than on both import and exports as in case of VAT. This would bring an inconsistency […]
The Cash Reserve Ratio (CRR) is one of the several monetary policy tools that the RBI use to manage the economy’s money supply. The Reserve Bank of India (RBI) is our country’s central bank, in charge of managing money flow to commercial banks, non-bank financial companies (NBFCs), and other lenders, who in turn supply […]
The National Pension Scheme (NPS) is a retirement benefits program that provides both tax savings and a pension. NPS Tier 1 and Tier II NPS accounts are the two categories of accounts available in the National Pension System. The National Pension System is governed by the Pension Fund Regulatory and Development Authority (PFRDA) and the […]
The Income Tax Act, 1961 gives different exemptions to salaried class apart from deductions like LIC premium, housing advance revenue and so on While the deduction is a reduced thing from a total taxable income, exemption implies exclusion from total taxable income. Such exemptions empower the employers to structure the Cost to Company (CTC) of employees […]
The employer provides paid leave to every employee, but not all of the leaves are used by the employee during their employment. You can, however, cash in those leaves for which you were scheduled to get paid but did not. Leave encashment is a perk granted by the company to the employee in order for them […]
