Free notes, textbooks, and exam-focused resources designed for Indian banking professionals.
Income Tax Refund An income tax refund is issued by the Income Tax Department when the taxes paid by an individual (through TDS, TCS, Advance Tax, or Self-Assessment Tax) exceed…
Income Tax Return (ITR) is a form used to declare a taxpayer’s gross taxable income for a given fiscal year. Filing an ITR is crucial not only for nation-building but…
TDS (Tax Deducted at Source) refers to the tax collected by the payer on specified types of income while making payments to the payee and subsequently depositing it with the…
Income tax is a tax charged on the annual income of individuals or businesses earned in a financial year. The tax paid by citizens serves as a source of revenue…
The 2025 Budget has proposed making normal income up to ₹12 lakh tax-free under the new tax regime for FY 2025-26. This significant development is a result of revised tax…
The names “Forward Contract” and “Forward Rate Agreement” (FRA) may sound similar, but they play distinct roles in financial markets, differing in key characteristics and functions. Let’s explore the main…
Currency derivatives are exchange-based futures and options contracts that allow those with a significant exposure to imports or exports, use these contracts to hedge against their exposure to a certain…
Derivatives are financial instruments whose value is derived from an underlying asset or a group of assets. These assets range from stocks, bonds, commodities, currencies, interest rates, or market indices.…
A swap is a derivative contract where two parties agree to exchange cash flows or liabilities from different financial instruments over a set period of time. In the other words,…
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