The best way to understand what is direct deposit is to think of how you receive your salary in your bank account. This electronic transfer of funds that gives you easy access to money without a paper cheque is the exact direct deposit meaning. A direct deposit helps your account get credited without requiring you …
Post Type Archives: Glossary
Direct Tax
Direct tax is a type of tax in which the same entity who bears the burden of the tax also pays it to the government. There is no other party involved other than the taxpayer and the IT authority. You cannot transfer your direct tax obligations to another individual or entity. In India, tax authorities …
Direct Transfer
The government of India implemented the direct transfer scheme to enhance the transfer of government subsidies in the country. The main objective is to improve the delivery system and revamp the existing procedures in welfare schemes. In simple terms, direct transfer aims to directly transfer subsidy benefits from various Indian welfare schemes into the beneficiaries’ …