NACH
National Automated Clearing House — a centralised payment system operated by NPCI that facilitates bulk electronic payments and collections.
Banking & FinanceNEFT
National Electronic Funds Transfer — a centralised, nation-wide payment system operated by the Reserve Bank of India that facilitates one-to-one…
Banking & FinanceNil-Rated Supply
A Nil-Rated Supply has a 0% GST rate. No tax is charged on it. You cannot claim the input tax credit. You still report it in your GST return.
GST & Indirect TaxNo-Claim Bonus
No-Claim Bonus is what your insurer gives you at renewal. You earn it when you make no claim for a full year. It cuts what you pay next time.
InsuranceNOC
A NOC is a no objection certificate from your lender. It says you have paid the loan in full. You need it to sell the asset. You need it to get your papers.
Banking & FinanceNPCI
National Payments Corporation of India — the umbrella organisation for all retail payment systems in India, owned by a consortium of major banks.
Banking & FinanceNRI
Non-Resident Indian — an Indian citizen or person of Indian origin who resides outside India for purposes of employment, business, or other…
FEMA & International Tax