MEANING OF INCOME TAX Income tax is referred to the percentage of the income that one pays to the government of India to finance infrastructural development, payment of salaries of state and central government employees, etc. The law that governs the provisions of income tax in India is the Income Tax Act, 1961. Income tax […]
Differences Between Debit and Credit Cards
INTRODUCTION Nowadays, more and more banks are trying to make value addition to the services they provide to their customers. The introduction of credit cards and debit cards in the form of magnetic stripe based cards is considered to be the turning point in the banking industry. Nowadays debit cards and credit cards are mostly […]
Credit Cards: Meaning, Advantages, and Disadvantages
MEANING OF CREDIT CARD A credit card is usually a plastic card that a financial institution issues to its customers so that the latter can have access to credit facilities. The Western Union established the first credit card company in the 1920s. Modern credit cards can be used for making purchases at most retailers, for shopping […]
Money Markets and Capital Markets
MEANING OF FINANCIAL MARKET A market is where buyers meet the sellers for the purpose of trading. A financial market is a market is where the traders carry out trade in financial instruments like stocks, bonds, commodities, currencies, and derivatives. Since there is involvement of money, the chances of frauds will be higher. Therefore, […]
How to Convert Black Money into White Money?
How to Convert Black Money into White Money? Convert Black Money into White Money : Black money refers to the money which is earned and hoarded by dishonest means and are not declared to the Government and relevant authorities to avoid payment of taxes. The massive amount of black money in our country has created […]