Capital Value - Law Dictionary Search Results
Home Dictionary Name: capital valueCapital value
Capital value, 'capital value' of a building to mean the value arrived at by multiplying the annual value of a building by sixteen, D.G. Gouse and Co. (Agents) Pvt. Ltd. v. State of Kerala, (1980) 2 SCC 410: AIR 1980 SC 271 (282): (1980) 1 SCR 804. (Kerala Building Tax Act (7 of 1975), Pre.)...
Net wealth tax
Net wealth tax, readings on Taxation in Developing, Countries by Fird and Oldman elucidates the concept of Wealth Tax as follows, at page 281: 'The term 'net wealth tax' is therefore deemed to be imposed on the person of the taxpayer, while the property tax often deemed to be imposed on an object - the property itself.' In Harvard Law School World Tax Series - Taxation in Columbia Net Wealth Tax is defined at page 451 thus: 'As a general rule, all debts owed by a tax-payers, whether to residents or to non-residents, are deductible if their existence is established in conformity with the legal requirements. The usual test of deductibility, as applied by the Division of National Taxes, is whether or not there is an actual, enforceable legal obligation the amount of which is fixed or computable as on December 31, of the tax year.' According to Harvard Law School World Tax Series - Taxation in Sweden - this tax has been levied in Sweden since a long time. Now it is regulated by law enacted...
Rate
Rate, A contribution levied by some public body for a public purpose, as a poor rate, a highway rate, a sewers rate, upon, as a general rule, the occupiers of property within a parish or other area.Proportional or relative value; the proportion of which quantity or value is adjusted, Black's Law Dictionary, 7th Edn., p. 1268.The term 'rate' is also used to mean a charge by a water, gas, railway, or other public undertaking for services rendered e.g., (English) Railways Act, 1921, s. 20; Metropolitan Water Board Charges Act, 1921 (11 & 12 Geo. 5, c. xciv.).The poor rate was levied under the (English) Poor Relief Act, 1601 (43 Eliz. s. 2), on the occupiers in each parish of 'lands, houses, tithes, coal mines, or saleable underwoods,' and the (English) Rating Act, 1874, extended the liability to rates to: (1) land used for a plantation or a wood, or for the growth of saleable underwood, and not subject to any right of common; (2) rights of fowling, shooting, taking, or killing game, or ra...
Annuity
Annuity, in order to constitute an annuity, the payment to be made periodically should be a fixed or predetermined one, and it should not be liable to any variation depending upon or on any ground relating to the general income of the fund or estate which is charged for such payment, CWT v. P. K. Banerjee, (1981) 1 SCC 63 (75): AIR 1981 SC 401. [Wealth-Tax Act, 1957, s. 2(e)(1)(iv)]It is a right to receive a specified sum and not an aliquot share in the income arising from any fund or property. Ordinarily an annuity is a money payment of a fixed sum annually made and is a charge personally on the grantor, CWT v. Arundhati Balkrishna, (1970) 1 SCC 561 (565): AIR 1971 SC 915. [Wealth Tax Act, 1957, s. 2(e)(iv)]An annuity is a fixed sum payable annually either in perpetuity or for any less period. When charged upon land either freehold or leasehold both, exclusively of purely personal estate, it is strictly a rent charge; see (English) Real Property Limitation Act, 1833 (3 & 4 Will. 4, c....
Valuation
Valuation, is a process which does not end on marks being awarded by an examiner, Sanjay Singh v. U.P. Public Service Commission, (2007) 3 SCC 720.Means the act or process of valuing, Jensen v. Jensen, 458 NW 2d 391 (1990).This term is generally applied to the equivalent in money of any kind of property. Thus for the payment of estate duty, a valuation of property of all kinds has to be made. Perhaps the most important and the most difficult valuation is that of land. This has almost invariably to be undertaken whenever land is compulsorily acquired. The difficulties that surround this question were fully considered in the case of Re Lucas and Chesterfield Gas and Water Board, (1909) 1 KB 16, in which Lord Justice Moulton in the course of his judgment said (at p. 29):-'The principles upon which compensation is assessed when land is taken under compulsory powers are well-settled. The owner receives for the lands he gives up their equivalent-that is, that which they are worth to him in m...
Testa de nevil
Testa de nevil, an ancient document in two volumes, in the custody of the King's Remembrancer in the Exchequer, more properly called Liber Feodorum.These books contain principally accounts (1) of fees holden either immediately of the king, or others who held of the king in capite, and if alienated whether the owners were in feoffed ab antiquo or de novo, as also fees holden in frankalmoigne, with the values thereof respectively; (2) of serjeanties holden of the king, distinguishing such as were rented or alienated, with the values of the same; (3) of widows, and heiresses of tenants in capite, whose marriages were in the gift of the king, with the values of their lands; (4) of churches in the gift of the king, and in whose hands they were; (5) of escheats, as well of the lands of Normans as others, in whose hands the same were, and by what services holden; (6) of the amount of the sums paid for scutage and aid, etc., by each tenant.These volumes were printed in 1807, under the authorit...
freeze
freeze froze fro·zen freez·ing 1 : to cause to become fixed, immovable, unavailable, or unalterable [ interest rates] 2 : to immobilize (as by government regulation or the action of a financial institution) the expenditure, withdrawal, or exchange of [ foreign assets] 3 : to restructure (the capital of a close corporation) so that the value is reflected mostly in preferred stock rather than common stock NOTE: Once capital is frozen, the common shares can be transferred to the heirs of the owner without taxation while the owner continues to enjoy the income from preferred stock dividends during his or her lifetime. freeze n ...
improvement
improvement : a usually permanent addition to or modification of real property that enhances its capital value and is distinguished from an ordinary repair in being designed to make the property more useful or valuable ...
Succession duties
Succession duties. The (English) Succession Duty Act, 1853, amended by 22 & 23 Vict. c. 21, ss. 12-15, and by the Customs and Inland Revenue Acts, 1881, 1888, and 1889, imposed a new set of duties, varying in amount from 1 per cent. in the case of a child succeeding a parent to 10 per cent. in the case of succession to a stranger in blood, upon real or personal property to which any person succeeds on the death of another. The duty is calculated on the capitalized value for the life of the successor of the property succeeded to, in accordance with a table schedule to the Act of 1853; e.g., if a person aged fifty succeed to property worth 100l. a year, he pays succession duty upon 1242l. 19s. 6d.Succession duties are payable as a rule at the same rate as legacy duty in respect of all property liable to be administered by any Court in Great Britain and Northern Ireland--unlike legacy duty, it falls on property passing by death (succession), under disposition by deed or other instrument (...
gain
gain 1 : an increase in value, capital, or amount compare loss capital gain : a gain realized on the sale or exchange of a capital asset (as a stock or real estate) ca·su·al·ty gain : a gain realized by an insured because property insurance benefits paid for a loss from a casualty or theft are greater than the adjusted value of the insured asset long-term capital gain : a capital gain realized on the sale or exchange of an asset held for more than a specified period (as a year) ordinary gain : a gain from the exchange or sale of an asset that is not capital short-term capital gain : a capital gain realized on the sale or exchange of an asset held for less than a specified period (as a year) that is treated as ordinary income under federal income tax laws 2 pl in the civil law of Louisiana : a class of community property that reflects the increase in property value contributed by the common skill or labor of the spouses gain vb ...
- << Prev.
- Next >>