Capital Gain - Law Dictionary Search Results
basis
cash method 3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for income tax purposes adjusted basis : the basis of an asset increased or decreased … method 3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for income tax purposes adjusted basis : the basis of an asset increased or decreased to
fund
administered by representatives of labor and management paid-in fund : a reserve cash fund in lieu of a capital stock account set up by mutual insurance companies to cover unforeseen losses sink·ing fund : a fund set … in the form of a limited partnership that employs speculative techniques in the hope of obtaining large capital gains index fund : a mutual fund that invests to reflect the composition of the market as a whole
ordinary income
ordinary income : income that does not derive from the exchange or sale of capital assets or property used in one's trade or business and that for individuals includes compensation, interest, dividends, and … property used in one's trade or business and that for individuals includes compensation, interest, dividends, and short-term capital gains
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Income or net income
or net income, Income is money or other benefit periodically received. It is profit or revenue and not capital. It is gain derived from capital or labour or both. Net income is income obtained after deducting all
Depreciation
represents the diminution in value of a capital asset when applied to the purpose of making profit or gain, Workmen of National & Grindlays Bank Ltd. v. National & Grindlays Bank, AIR 1976 SC 611 (616). … Depreciation, is an allowance for the diminution in the value due to wear and tear of capital asset employed by an assessee in his business, Union of India v. Savjiram, (2004) 9 SCC 312 (317).
Holding of investments
behalf of the appellant but covers companies whose primary or principal source of income is house property or capital gains as well, Nown Estates (P) Ltd. v. CIT West Bengal, AIR 1977 SC 153 (157). [Income-tax Act, … of the appellant but covers companies whose primary or principal source of income is house property or capital gains as well, Nown Estates (P) Ltd. v. CIT West Bengal, AIR 1977 SC 153 (157). [Income-tax Act, 1922,
Tax stradle rule
stradle rule, means the rule that a tax-payer may not defer on tax liability by investing a short-term capital gain in a commodities for future option i.e., investment vehicles whose values formerly did not have to be recorded
Gross total income
45. Con-sequently, it did not amount to 'income' within the scope of section 2(24)(vi) as there was no capital gain within the meaning of s. 45. It was also not to be included while computing the total income
tax
of (costs of an action in court) 2 : to levy a tax on [ the corporation] [ capital gains] tax·er n n often attrib 1 : a charge usually of money imposed by legislative or other … (costs of an action in court) 2 : to levy a tax on [ the corporation] [ capital gains] tax·er n n often attrib 1 : a charge usually of money imposed by legislative or other public
ex-distribution
ex-distribution : without the right to a pending distribution (as of capital gains from a mutual fund) [shares traded ] … ex-distribution : without the right to a pending distribution (as of capital gains from a mutual fund) [shares traded ]
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