CIBIL Score – Everything one needs to know

What is CIBIL? Credit Information Bureau (India) Ltd or CIBIL is a credit information company which collects and maintains individual’s payments of loans and credit cards.   What is CIBIL Score? CIBIL TransUnion Score is a 3 digit number ranging from 300 to 900 points. What is Credit Information Report (CIR)? Credit Information Report (CIR) is…


Meaning of Net Salary

Net salary, also known as ‘Take home salary’ is the difference of gross salary and deductions from gross salary.  Put it simple, some amount of money is deducted every month from the salary of employees as a part of retirement benefits, taxes and statutory provisions. Salary remained after these deductions is known as net salary.…


Demerger – Meaning & Purpose

Demerger refers to corporate strategy in which a company splits into more than one entity. Converse to merger, it is done to operate each of the segments smoothly, dissolve one of the segments to raise capital or to focus on core business. Purpose: In most of the cases, demerger takes place when management decides to…


How is income tax calculated?

Income Tax: Income tax is amount of tax levied upon income of an individual earned during a financial year. Taxable Income: Taxable income computation is first step in calculation of income tax.  Income tax is calculated on annual taxable income and deduct every month from income of an individual on average basis. Total Income is…


Accounts receivable – Definition

Accounts receivable refers to the amount of money which a company has to collect from its debtors. The money so owed by customers is assumed to be collected within a financial year. Thus account receivable is part of currect asests of a company. Usually accounts receivable occurs as a result of credit sale policy adopted…