Finance

In simple words, gain arising on transfer of long-term capital asset is termed as long-term capital gain.Now, you have to understand what long term capital assets are.Capital asset can be short term or long term based on its period of holding.Any capital asset held by a person for a period of more than 36 months immediately preceding the date of its transfer will be … [Read more...] about Long term capital gain

Ex Parte is a latin term. It means, done with respect to or in the interest of one side due to non-appearance of the opposition.As per our law, both the parties should be given equal opportunity to present them before passing any order.However, in certain cases, courts may pass an ex parte decree (an official order given by a government). For instance, when after … [Read more...] about Ex parte

Imagine you are running a small cafe in your city. At the end of the year, you ask yourself three simple questions:This is exactly where the accounting equation comes in. It is the foundation of all financial statements. Whether you are a commerce student, a beginner investor, or a small business owner in India, understanding this concept helps you read financial reports … [Read more...] about Accounting Equation: What It Is and How You Calculate It (Step-by-Step Guide for Beginners)

Before comparing both ELSS and PPF investment options, let us first know what is Equity-linked savings scheme (ELSS) and Public Provident Fund (PPF). Equity-linked savings scheme or ELSS is a type of mutual fund which invests money accumulated in equities and equity-linked instruments and offers tax deduction under section 80C of the Income tax Act, 1961.Public … [Read more...] about ELSS or PPF – Which is a better tax saving investment option