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1492 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

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Unexplained cash credit

Regulation & tax
Also called: Section 68

A credit in your books or accounts whose source you cannot satisfactorily explain, brought to tax under Section 68 at a punitive rate.

In plain terms

No deduction, and no set-off against losses. The rate sits well above the ordinary top slab, which is the point — it is designed to be worse than having declared the income.

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Indian stock market glossary · Market Vidyalaya