01-01-2018, 04:29 PM
*PAN (Permanent Account Number) relates to income tax administration.
*Personal income tax is a direct tax levied on individuals.
*Central Excise Duty is imposed on the commodities which are produced within the country.
*Customs Duty is imposed on both import, and export.
*Raja Chellayah was the chairman of tax reforms committee.
*The new committee which suggested reforms in direct and indirect tax is Kelkar Committee.
*Tax holiday - A limited period of tax free operation, or of specially reduced taxation.
*Tax shelter - An arrangement by which part of a person’s income is protected from taxes.
*Tax evasion : Failure to pay taxes legally due.
*The Act came to be effective from April 2015 enacted to limit tax avoidance GAAR (General Anti-Avoidance Rules)
STOCK EXCHANGE
*The stock exchange is the place where stocks, shares and other securities are bought and sold.
*The world’s first stock exchange was established at Antwerp in Belgium.
*The largest stock exchange in the world is NYSE Eruonext formerly known as Area Ex.
*British Government securities traded in the Stock Exchange are known as the ‘government edge’.
SEBI
*Securities and Exchange Board of India (SEBI) is the regulator of securities market in India
*SEBI was formed in 1988 as per the recommendation of the Patel Committee.
*It became a statutory organisation in 1992 April 12.
*S.A. Dave is the first chairman of SEBI.
*Present Chairman of SEBI
Ans : Ajay Thyagi
*Bandra Kurla Complex in Mumbai is the headquarters of SEBI.
*Our country has 23 stock exchanges (21 are regional and 2 are national).
*India has the second largest share holding population in the world.
*The first organised stock exchange in India was set up in Mumbai. The earlier name of Bombay Stock Exchange was “The Native Share and Stock Broker’s Association. Caption of Bombay stock exchange is ‘the edge is efficiency’.
*The first company registered in Bombay stock exchange was D.S. Prabhudas and Company.
*The word ‘ Sensex’ was first used by Deepak Mohani
*NSE is the third largest stock exchange in the world in terms of the trades in equities.
*NSE is the second fastest growing stock exchange in the world.
*Security : Refers to share, Bond or Govt, stock that can be bought an sold usually on the stock exchange or on a secondary market.
*Profit from debentures is called interest while profit from shares is called ‘dividend’.
*The first Stock Exchange in Kerala is Cochin Stock Exchange.
*Cochin Stock Exchange was established in 1978. It was under the direct control of SEBI.
Stock Exchange Index
*Nasadq -New York
*Dow Jones -New York
*Hang Seng -Hong Kong
*Dolex, Sensex- Mumbai
*FTSE -London
*Bovespa -Brazil
*Mid Dax -Frankfurt
*Simex- Singapore
B.S.E & N.S.E
*The Bombay Stock Exchange (BSE) is located at Dalai Street, BSE is the oldest stock exchange in Asia. (1875).
*B.S.E. share index is known as ‘Sensex’.
*The National Stock Exchange (N.S.E.) was setup by the Government of India on the recommendation of Pherwani Committee: It is located at Mumbai (1992)
*‘Nifty’ is the share index of N.S.E.
Bull, Bear & Blue Chip
*Bull and Bear are the two terms associated with stock exchange.
*The term bull market and bear market describe upward and downward market trends respectively.
*High valued share is known as ‘Blue chip’.
