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Sub – MATHS 1

FINANCIAL PLANNING

Prajwal more 24/

th

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What is financial planning?

In general usage, a financial plan is a comprehensive evaluation of an individual’s current pay and future financial state by using current known variables to predict future income, asset values and

Investment 

To invest is to allocate money

with the expectation of a

positive benefit/return in the

future. In other words, to

invest means owning an asset

or an item with the goal of

generating income from the

investment or the

appreciation of your

investment which is an

What Is tax?  (^) A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law.

Types of taxes Direct taxes  (^) A direct tax is a tax that a person or organization pays directly to the entity that imposed it. An individual taxpayer, for example, pays direct taxes to the government for various purposes, including income tax, real property tax, personal property tax, or Indirect taxes  (^) An indirect tax (such as sales tax, per unit tax, value added tax (VAT), or goods and services tax (GST), excise, consumption tax, tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or

Income tax 

An income tax is a tax

imposed on individuals or

entities in respect of the

income or profits earned

by them. Income tax

generally is computed as

the product of a tax rate

times the taxable income.

Taxation rates may vary by

type or characteristics of

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