A scheme that allows taxpayers to deposit capital gains in a designated bank account to claim tax exemption under Section 54 or 54F when the new property has not yet been purchased or constructed before the ITR filing due date. Funds must be used for the specified purpose within the stipulated period.
The percentage of a bank's total deposits that must be maintained as cash reserves with the RBI. Does not earn interest for the bank. When RBI increases CRR
A person who occasionally undertakes transactions involving supply of goods or services in a state or union territory where they do not have a fixed place of business. Must register for GST before commencing supply
Central Goods and Services Tax — levied by the central government on intrastate supply of goods and services
When a cheque presented for payment is returned unpaid by the bank due to insufficient funds
A three-digit credit score ranging from 300 to 900
A market-wide mechanism that temporarily halts trading on all exchanges when the Nifty or Sensex moves by 10%
A mutual fund with a fixed number of units and a defined maturity period. Units are issued only during the New Fund Offer period and can be traded on stock exchanges after listing. Unlike open-ended funds
A provision under the Income Tax Act where income earned by a spouse
A simplified GST compliance option for small businesses with annual turnover up to ₹1.5 crore (₹75 lakh for most services). Businesses pay GST at a flat lower rate and file quarterly returns instead of monthly
A document issued by a supplier to a buyer when the original invoice value needs to be reduced — due to returns
The percentage of your total available credit limit that you are currently using across all credit cards. A ratio below 30% is considered healthy and positively impacts your credit score. High utilisation signals credit dependency and can lower your CIBIL score.