Finance & tax glossary (India)
Short definitions for salaried professionals and small businesses. Each term links to a related calculator or guide where available.
- 80C
- Deduction up to ₹1.5 lakh for specified investments and expenses under old tax regime. Learn more
- 80D
- Deduction for health insurance premium for self and family. Learn more
- AIS
- Annual Information Statement — tax department summary of financial transactions. Learn more
- Basic Pay
- Core salary component used for PF, gratuity, and many allowances. Learn more
- CGST
- Central GST on intra-state supplies. Learn more
- CTC
- Cost to Company — total employer cost including salary and benefits. Learn more
- DA
- Dearness Allowance — inflation-linked pay component. Learn more
- ELSS
- Equity Linked Savings Scheme — tax-saving mutual fund with 3-year lock-in. Learn more
- EMI
- Equated Monthly Instalment for loans. Learn more
- EPF
- Employee Provident Fund — retirement savings with employer match. Learn more
- EPS
- Employee Pension Scheme linked to EPF. Learn more
- FD
- Fixed Deposit — lump-sum deposit at fixed rate. Learn more
- Form 16
- Employer TDS certificate for salaried employees. Learn more
- Gratuity
- Lump-sum benefit after 5+ years of service. Learn more
- GST
- Goods and Services Tax on supplies in India. Learn more
- GSTIN
- 15-digit GST identification number for registered businesses. Learn more
- HRA
- House Rent Allowance — rent exemption under Section 10(13A). Learn more
- HSN
- Harmonized System of Nomenclature code for goods on invoices. Learn more
- IGST
- Integrated GST on inter-state supplies. Learn more
- ITR
- Income Tax Return filed with the tax department. Learn more
- LTA
- Leave Travel Allowance — exemption for travel under conditions. Learn more
- LTCG
- Long-term capital gains on assets held beyond specified period. Learn more
- Metro city
- Delhi, Mumbai, Kolkata, Chennai for HRA 50% rule. Learn more
- NAV
- Net Asset Value per unit of a mutual fund. Learn more
- New tax regime
- Lower slab rates with fewer deductions/exemptions. Learn more
- NPS
- National Pension System — market-linked retirement savings. Learn more
- Old tax regime
- Higher slabs with deductions like 80C, HRA, 80D. Learn more
- PPF
- Public Provident Fund — 15-year government-backed savings. Learn more
- Professional tax
- State-level tax on salaried income. Learn more
- RD
- Recurring Deposit — monthly deposits at fixed rate. Learn more
- Rebate 87A
- Tax rebate for lower income under new regime. Learn more
- SAC
- Services Accounting Code for service invoices. Learn more
- SGST
- State GST on intra-state supplies. Learn more
- SIP
- Systematic Investment Plan — periodic mutual fund investment. Learn more
- Stamp duty
- State tax on property registration and agreements. Learn more
- Standard deduction
- Flat deduction from salary income (₹75,000 new regime for many salaried). Learn more
- STCG
- Short-term capital gains. Learn more
- Take-home salary
- Net pay after deductions credited to bank. Learn more
- TDS
- Tax Deducted at Source — advance tax withheld on payments. Learn more
- VPF
- Voluntary PF contribution above mandatory EPF. Learn more