Excess Profits Duty
Legal definition for Indian law research
Definition
Excess profits duty, a duty imposed by the Finance (No. 2) Act, 1915 (ss. 38-45), on such profits as a business made in a year which were more than 200l. in excess of those made prior to 4th August, 1914, or, in the case of a business established since that date, on profits which exceeded a percentage on the capital employed. The duty was abolished by the (English) Finance Act, 1921.
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