Question
A current account maintained by a domestic bank with a
foreign bank, in a foreign country is known as?Solution
Banks deal in Forex market and so have to maintain stocks of foreign currencies in the form of bank accounts with their overseas branches / correspondents. It refers to an account that a domestic bank holds in a foreign currency in foreign bank. Nostros, a term derived from the Latin word for “ours,” are frequently used to facilitate foreign exchange and trade transactions. Nostro A/C (our account with you) – is a current account maintained by a domestic bank (say SBI) with a foreign bank (say Citi Bank) in a foreign country.
Salary received by the Partner of a Firm is charged under the head
First Auditor of a company is appointed by the ________________________
A salaried employee earns ₹18 lakhs annually. In FY 2024–25, she contributes ₹1.5 lakh to PPF, ₹50,000 to NPS (u/s 80CCD(1B)), and pays ₹2 lak...
Salary paid to MLAs and MPs are charged under the head
Health and Education Cess is leviable at –
_________________ is a brief summary of a prospectus filed before the registrar and contains all the salient features of a prospectus
A domestic company reports ₹2 crore as book profit. As per section 115JB, if its normal tax liability is ₹12 lakh, what is the Minimum Alternate Tax...
A taxpayer may file an updated return for FY2023-24 till what date?
The remuneration of the auditor of a company shall be ________________________
Taxable person means a person who is