FinTax24

Glossary

Terms Starting with "L"

4 terms found

Labour Welfare Fund

The labour welfare fund is a state pool for worker aid. Firms and staff both pay into it. The state then funds health help from it. The rules differ by state.

HR, Payroll & Labour Law

LLP

LLP means Limited Liability Partnership. You get a firm's ease and a shield on what you own. Two people can start one. The LLP Act, 2008 sets out the rules.

Corporate Law

LRS

LRS is the Liberalised Remittance Scheme. It lets you send cash out of India for set needs. The RBI caps it each year. Your bank has the form for it.

FEMA & International Tax

LTCG

LTCG is the capital gain on an asset you sell after the full holding period. The period is set for each type of asset. You pay tax on the gain you made.

Income Tax