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         IRDA stand for Insurance Regulatory and Development Authority. IRDA is the regulatory body in India which governs both Life Insurance and General Insurance companies. India is a very big country that offers great opportunities to various segments one of that is the insurance sector. ESTABLISHMENT OF IRDA         Insurance in India started in the year 1850 with the first General Insurance Company established in Kolkata. As time passes the insurance market becomes competetive as many insurers started emerging both in life and non life sectors. The existing companies practised their business on their own rates and rules. It made customers insecure that brought the credibility of the insurance market at stake. To secure the customers interest government realised that there should be independent regulatory which can regulate all the insurance companies. Hence government established the IRDA. FUNCTION OF IRDA       IR...

            IPF stand for Investor Protection Fund. NSE has established an Investor Protection Fund with the objective of compensating investors in case of defaulters asset not being sufficient to fulfill the admitted claims of the investors,for investors education and awareness. The investors protection fund is administered by registered trust created for the purpose. The investor protection fund trust is managed by trustee,consisting of public representative,board members and senior officials of the exchange.             The stock exchanges have beented to fix legitimate compensation limits in consultation with investor protection fund/ customer protection fund trust. It is also provided that the amount of compensation available against a single claim of an investor arising out of default by a member broker of a stock exchange shall not be less than Rs one lakh in case of major stock exchange like BSE and NSE and Rs 50...

            ICAI stand for Institute of Chartered Accountants of India. This institute was previously known as The Institute of Cost and Works Accountants of India ( ICWAI). In 1959 the Institute was established under the Cost and Works Accountants Act. The act declared the institute as a statutory professional body for the regulation of the profession of cost and management accountancy. ICMAI has been responsible greatly for the changing and improving industrial and economic condition of India. Its headquarter in Kolkata and has three other regional  located on Chennai,Delhi and Mumbai. FUNCTION OF ICMAI           ICMAI is constantly working to grow some of the objectives are as follows -- Making Cost and Management Accountancy a helpful tool in all economic activities. Implementing effective and scientific methods in Cost and Management Accountancy. Keeping updates with all the changing happens in the field and ec...

           HUF stand for Hindu Undivided Family. One can save taxes by forming a family unit and combing asset to form a HUF. HUF is taxed separately from its member. For instance A Hindu family can come together and form a HUF likewise Buddhist,Jains and Sikhs can also form a HUF. HUF has its own PAN and files tax returns independents of its members.             A HUF is taxed separately from its member,hence deductions such as under section 80C or exemptions allowed under the tax laws can be claimed separately. For instance if someone and his spouse along with two children decided to create a HUF all four members as well as HUF can claim a deduction for section 80C and will be eligible for other exemptions. TAX CRITERIA FOR HUF     The followings are the tax criteria for the HUF. HUF has its own PAN and files a separate tax return. A separate joint  Hinhu family business is created since it has entity ...

                  GDS stand for Gross Domestic Savings. We know that GDP is the money that combines of all the final goods of of various products in the domestic territory of a country in a particular year. Hence Gross Domestic Product measures the total output of goods and services for final use within a country regardless of the allocation to domestic and foreign claims.               A part of the GDP is consumed. The remaining after the consumed is saving. Hence Gross Domestic saving is the Gross Domestic Product minus final consumption. The saved money is either kept with the public or is reinvested,when money is reinvested it is known as capital formation. The ratio of saving and investments is very important for the economic growth of the country.            The Gross Domestic Saving has two parts. First is Public Sector and second is Private sector. The largest segmen...

                 FPO stand for Follow on Public Offer. A follow on public offering is the issuance of shares to investors by a company already listed on stock exchange. A follow on public offering is an additional shares made by a company after an initial public offering. FPO usually announce by companies to raise equity or reduce debt.                Public companies can take advantage of an FPO through an offer document. It should not be misunderstand wit IPO,the initial public offering of equity to the public. FPOs are additional issues made after a company is listed on an exchange. TYPES OF FPO           There are two main type of follow on public offers. The first is dilutive and second is non dilutive. The first is dilutive to investors,as the company's board of directors accepts the proposal to increase the share float level or the number of share available. In dil...

ENGLISH CLASS - 6 CHAPTER - 7 ( FAIR PLAY  )  WORKING WITH THE TEXT QUESTION A. Match the sentences under I with those under II.                                         I 1. Jumman and Algu were the best of friends. 2. Jumman’s aunt transferred her property to him. 3. The aunt decided to appeal to the panchayat. 4. Algu was unwilling to support the aunt. 5. Jumman was very happy to hear Algu’s name as head Panch.                                          II 1. He believed that his friend would never go against him. 2. She wanted justice. 3. In the absence of one, the other took care of his family. 4. The condition was that he would be responsible for her welfare. 5. The bond of friendship between him and Jumman was very strong. ANSWER ...