Definition Archive
Banking Functions and Economic Importance of Banks
Bank is a financial institution that facilitates transfer of money from one person or business to another person or business. Basically it is an institution for keeping, lending, transferring and exchanging money. Banks lend money that they
Risk in Banks – An overview
According to scientists, universe emerged from a high-risk event popularly known as Bing Bang Theory. Probably for that reason, each activity in nature too is embedded with risk. But, over a period of time, plants and animals
Income/ Loss from House Property- Deduction u/s 24 A
As per the Income Tax Act, income/loss from a house property has to be considered for calculation of income tax. Calculation of income/ loss from house property is covered under section 24 A. The said income/loss comes
Net Annual Value Calculation u/s 22 of IT Act 1961
Section 22 covers ‘Income from house property’ and Net Annual Value calculation. Income Tax is to be charged under the head ‘Income from house property’ on the annual value of property consisting of any building or land