Direct taxes

Taxes which affect the consumer directly, such as income tax, corporate tax, capital gains tax etc.

Discount

The amount by which a bond or preferred stock sells below its par or face value. In foreign exchange market, it is the amount by which forward price is less than the spot price. In general, it means an extent of reduction in the price/value of the asset/product which is given when it is sold.

Dividends

Company earnings that may be paid out to shareholders according to the number of shares or stocks they hold. Dividends can be earned on stocks as also units of mutual funds.

Documentary Credit

Written undertaking by a bank on behalf of an importer authorizing an exporter to draw drafts on the bank up to a specified amount under specific terms and conditions. They are used to facilitate international trade. Also called Letter of Credit (LC).

Due diligence

While finalizing documentation, the lead manager and the legal counsel conduct a thorough review of the borrowing entity with reference to the financials, legality, and all such matters relevant in a public offering of securities.

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