Deductive - Law Dictionary Search Results
Net wealth tax
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
Net profits
Net profits, clear profits after all deductions, see Watson v. Haggitt, 1928 AC 127. [s. 42, Indian Trusts Act] Net profits, the 'net profits' means
Neat or net
opposed to 'gross' weight (Continental 'tare' opposed to 'brut'), also 'undiluted.' In accounts of sum of money after deduction of all stand outgoings or expenses, or other deductions, Com. Term. Net rent. In houses to which the
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If any
If any, The phrase 'if any', signifies that if no duty is payable, nothing will be deducted from the wholesale price. It is only when excise duty is actually payable that the duty element can
Net income
of collection and other compulsory payments such as Income-tax etc. It does not mean net income after giving deduction for all the expenses incurred by the husband. Expenses which are to be deducted must have some relation
Abstract of title
ambiguities. The objects of every abstract is to enable the pur-chaser or mortgagee to judge of the evidence deducting, and of the incumbrances affecting, the title. It should describe whatever will tend to enable him or his
carryback
carryback : the portion of an income tax deduction (as for a net operating loss) or credit which cannot be taken entirely in a given period and
nondeductible
not allowable as a tax deduction as political contributions are nondeductible Opposite of deductible
adjustment to income
adjustment to income An expense that can be deducted even if the taxpayer does not itemize deductions.
allowance
granted as a reduction or increase [an for depreciation] 2 : an act of allowing [ of a deduction]
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