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Why there is no VAT tax on loans/interests?
Posted 3+ months ago | 1 answers | 
1 star | Open
Related topics: interest, product, tax, loans, banking
Answer posted by BondStreet 3+ months ago: Value Added Tax (VAT) is not typically applied to loans or the interest charged on these loans because VAT is a consumption tax levied on goods and services that add value. In the case of loans and interest: Non-Good or Service: Loans themselves are not considered goods or services. A loan is ...
How does working structure in India banking Systems?
Posted 3+ months ago | 1 answers | | Open
Related topics: india, working, structure, system, banking
Answer posted by Finacustech 3+ months ago: The working structure of banking systems in India typically follows a hierarchical model. At the top, there are governing bodies like the Reserve Bank of India (RBI), which regulates and supervises the banking sector. Below are various types of banks, including public sector banks (owned by the ...
How does your software detect and prevent banking fraud?
Posted 3+ months ago | 1 answers | | Open
Related topics: software, banking, fraud
Answer posted by just a person 3+ months ago: Banks and financial institutions use AI and ML to detect various forms of fraud, including account takeover, money laundering, and insider trading. These systems monitor transaction data, user behavior, and market conditions to identify suspicious activities.
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