Functional of financial services exclude: .....

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Functional of financial services exclude: ____

A	Mobilisation of savings
B	Collection Tax
C	Allocation of funds

Explanation:

Detailed explanation-1: -’Asset management and all other forms of fund management’ are liable to service tax under ‘banking and other financial service’ [section 65(12)].

Detailed explanation-2: -Expert-Verified Answer Functions of financial services exclude Specialised services. The function of financial services is to use the funds of the company in such a way that the maximum possible utility is achieved.

Detailed explanation-3: -The financial services sector is comprised of banking, mortgages, credit cards, payment services, tax preparation and planning, accounting, and investing.

Detailed explanation-4: -Reducing unemployment and helping speculators to bet on price movements are not functions of a financial system.

There is 1 question to complete.