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Income in respect of a decedent

Income in respect of a decedent, means income earned by a person, but not collected before death. This income

Income or net income

Income or net income, Income is money or other benefit periodically received. It is profit or revenue and not

Tax and fee

Tax and fee, it is true that between a tax and a fee there is no generic difference. Both

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Tax and fee-distinction

Tax and fee-distinction, a tax is a compulsory exaction of money by a public authority for public purposes enforceable

Penalty sale tax

Penalty sale tax, penalty is not merely sanction. It is not merely adjunct to assessment. It is not merely consequential to

Property-tax

Property-tax, an annual tax, called also 'Income Tax,' on the income of every person, except where below a certain figure. See INCOME TAX and Chit. Stat., tit. 'Property Tax';

Such income by way of dividends

Such income by way of dividends, the words 'such income by way of dividends' in s. 80M of Income Tax

tax benefit rule

in a prior taxable year is recovered in a later year it must be included in the gross income for the later year to the extent of the original deduction NOTE: If the amount of the loss

tentative minimum tax

it exceeds regular tax liability is the alternative minimum tax liability and that is determined by adjusting taxable income by adding tax preference items under Internal Revenue Code section 57 and subtracting an exemption amount under section

Direct tax

Direct tax, means: (a) any tax chargeable under-- (i) the Income-tax Act; (ii) the Super Profits Tax Act, 1963; (iii) The Companies (Profits) Surtax Act, 1964; (iv) the agricultural

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