How many FinTax24 glossary terms start with S?

There are currently 16 terms starting with S on the FinTax24 glossary. Sample: SAC Code, Salary Structure, Section 17 of Income Tax Act.

Are glossary definitions reviewed by professionals?

Yes. Every FinTax24 glossary term is reviewed by experienced compliance professionals before publication. Each definition cites the relevant statutory provision (GST Act, Income Tax Act, Companies Act, etc.) and includes a "Last reviewed" date at the top.

Can I suggest a new glossary term?

Yes — message our team on WhatsApp with the term you would like added, and our editorial team reviews submissions monthly. High-volume Indian tax, GST, audit and corporate-compliance terms are prioritised.

How do I find a specific glossary term?

Use the A–Z filter on the glossary index to jump to the relevant letter, or use the search box at the top of every glossary page. Cross-references between terms are linked inline in each definition.

Glossary

Terms Starting with "S"

16 terms found

SAC Code

SAC Code is the 6 digit code you use to classify a service for GST. It tells you the rate to charge. You add it to your invoice and your GST return.

GST & Indirect Tax

Salary Structure

The breakdown of an employee's total compensation into components like basic salary, HRA, special allowances, and other benefits for tax and…

HR, Payroll & Labour Law

Section 17 of Income Tax Act

The section of the Income Tax Act that defines 'salary' income and lists the components that constitute taxable salary, including perquisites,…

HR, Payroll & Labour Law

Section 24(b)

Section 24(b) lets you save tax on the interest you pay for a home loan. You can claim up to ₹2 lakh each year. It applies only to a self occupied home.

Real Estate & RERA

Section 44AD

Section 44AD: presumptive taxation for businesses with turnover up to ₹3 crore (₹75 lakh if cash >5%). 8% deemed income (6% digital). Tax limit, advance tax, ITR-4, and applicability explained.

Income Tax

Section 44AD vs 44ADA

Section 44AD vs 44ADA: both let you pay tax on a set share of income. Use 44AD for trade or shops. Use 44ADA for professional work. You claim it in your return.

Income Tax

Section 44AD vs 44AE

Section 44AD vs 44AE: both are simple ways to declare business income. Use 44AD for trade at 6% or 8% of turnover. Use 44AE for goods carriers, ₹1,000 a ton.

Income Tax

Section 44ADA

Section 44ADA: presumptive tax for professionals. 50% deemed income on gross receipts up to ₹75 lakh. ITR-4 filing explained.

Income Tax

Section 8 Company

A company registered under Section 8 of the Companies Act, 2013 for promoting commerce, art, science, sports, education, research, social welfare,…

Compliance & Registrations

Section 80C

Deduction of up to ₹1.5 lakh per year on specified investments and expenses such as EPF, PPF, ELSS, life insurance, home-loan principal, and tuition…

Income Tax

Section 80D

Section 80D cuts the tax on your health insurance. It covers what you pay for you, your family and your parents. You can claim it in your ITR.

Income Tax

SGST

SGST is the state government's share of GST. You pay it when you sell goods or services inside one state. Your invoice shows SGST and CGST on it.

GST & Indirect Tax

Shop and Establishment Act

Shop and Establishment Act is the state law for shops and offices. It sets rules on work hours, leave and job terms. Each state has its own version of it.

Compliance & Registrations

Stamp Duty

Stamp Duty is a tax you pay on a property deal. The state collects it when you buy or sell a flat. Its rates come from the Indian Stamp Act, 1899.

Real Estate & RERA

STCG

STCG is the capital gain on an asset you sell in the short term. It arises when you hold it for less than the set period. You pay tax on the gain you made.

Income Tax

Sum Assured

The fixed amount that the insurance company agrees to pay to the nominee on the insured event (death or maturity) under a life-insurance policy.

Insurance