CTC VS Gross Salary CTC (Cost to Company): Cost to company represents the total expenditure incurred by a company on an employee annually. It encompasses not only the basic salary but also various allowances, perks, and benefits provided by the employer. Components: 1. Basic Salary: The foundational component of CTC, usually constituting a significant… Read More »
Salary Slip Components A Salary slip components is a document issue by an employer to an employee detailing their earnings and deductions for a specific pay period. It includes information such as basic salary, allowances, taxes, and deductions. Salary slips serve as proof of income and provide transparency in the employer-employee relationship. Salary Slips… Read More »
Direct and Indirect Expenses Direct and indirect expenses Difference DirectExpense Direct expense or income are those expenses or income that are directly related to the production or sale of goods or services. They are directly traceable to a specific product or service and can be allocated to it without any difficulty. Examples of direct expenses… Read More »
Net revenue and Gross profit Net revenue and gross profit are both important financial metrics that used to measure the financial performance of a business. However, they represent different aspects of a company’s financial picture. Net revenue is the total amount of revenue earned by a business after deducting any discounts, returns, and allowances from… Read More »
The definition of a turnover in tax audit In the context of a tax audit, turnover represents the complete income generated by a business through its operations within a specific financial year. Turnover is an important factor in determining the tax liability of a business, as it used to calculate various taxes such as income… Read More »
What are Revenues? Revenues, in the context of business and finance, refer to the income or funds generated by a company through its operations. It represents the money earned by a business from the sale of goods, provision of services, or other activities. There are various sources of revenue, including product sales, service fees, licensing… Read More »