Capital Surplus - Law Dictionary Search Results
Home Dictionary Name: capital surpluscapital surplus
capital surplus see surplus ...
surplus
surplus 1 a : an amount that remains when a use or need is satisfied b : an excess of receipts over disbursements c : the value of assets after subtracting liabilities 2 : an excess of the net worth of a corporation over the par value of its capital stock compare undivided profits capital surplus : all surplus other than earned surplus earned surplus : the surplus that remains after deducting losses, distributions to stockholders, and transfers to capital stock accounts paid-in surplus : surplus resulting from the sale of stock at amounts above par ...
Capital paid in surplus
Capital paid in surplus, Is reserve within the meaning of rule 2(1) of the Business Profits Tax Act, 1947, CIT, Calcutta v. Standard Vacuum Oil Company, (1966) 2 SCR 367: AIR 1966 SC 1393 (1402)....
stock
stock 1 a : the equipment, materials, or supplies of a business b : a store or supply accumulated ;esp : the inventory of the goods of a merchant or manufacturer 2 : the ownership element in a corporation usually divided into shares and represented by transferable certificates ;also : the certificate evidencing ownership of one or more shares of stock capital stock 1 : the stock that a corporation may issue under its charter including both common and preferred stock 2 : the outstanding shares of a joint stock company considered as an aggregate 3 : capitalization common stock : a class of stock whose holders share in company profits (as through dividends) on a pro rata basis, may vote for directors and on important matters such as mergers, and may have limited access to information not publicly available cumulative preferred stock : preferred stock whose holders are entitled to the payment of cumulative dividends as well as current dividends before common stockholders are ...
Allocable surplus
Allocable surplus, means-(a) in relation to an employer, being a company other than a banking company which has not made the arrangements prescribed under the Income-tax Act for the declaration and payment within India of the dividends payable out of its profits in accordance with the provisions of s. 194 of that Act, sixty-seven per cent of the available surplus in an accounting year. (b) In any other case, sixty per cent of such available surplus. [Payment of Bonus Act, 1965 (21 of 1965), s. 2 (4)]...
Earned surplus
Earned surplus, it represents a specific account into which are added the net profits of the year and appropriations are made out of it and the balance is regarded as 'earned surplus' at the end of the year. This account is specifically allocated for utilisation for the purpose of business year after year. It is an account in which the net profits less the appropriations are added, and the account is intended for application in extending the business of the assessee company. The amounts entered in the account 'earned surplus' cannot be regarded as mere unallocated profits at the end of the accounting year, CIT v. Standard Vacuum Oil Company, AIR 1966 SC 1393: (1966) 2 SCR 367. [Business Profits Tax Act, 1947, Sch. II, R. (2) and (3)]...
Utilisation of surplus area
Utilisation of surplus area, the s. empowers the State Government or its authorised officer to 'utilise' any 'surplus area' for the resettlement of tenants, the Act does not define what is meant by an order of utilisation under the s. A clue to what is actually meant by that expression, is however to be found clause (b) s. 10A which provides as follows: 10-A(b). Notwithstanding anything contained in any other law for the time being in force and save in the case of land acquired by the State Government under any law for the time being in force or an heir by inheritance no transfer or other disposition of land which is comprised in surplus area at the commencement of this Act, shall affect the utilisation thereof in clause (a), Financial Commissioner v. Kala Devi, AIR 1980 SC 309 (310): (1980) 1 SCC 77: (1980) 1 SCR 1120. [Punjab Security of Land Tenures Act (10 of 1953), s. 10A and s. 10B]...
earned surplus
earned surplus see surplus ...
paid-in surplus
paid-in surplus see surplus ...
surplus line
surplus line : of, relating to, or being insurance provided by a company not authorized to do business in the state except through a specially licensed broker NOTE: Surplus line insurance can only be purchased if efforts to acquire suitable insurance from authorized companies are unsuccessful. ...
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