Earned - Law Dictionary Search Results
Home Dictionary Name: earnedEarned 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)]...
advance earned income credit
advance earned income credit Prepayments of the earned income credit by an employer to an employee. ...
Total full time earning
Total full time earning, it can only mean the earnings he earns in a day by working full time on that day, the full time to be in accordance with the period of time given in the notice displayed in the factory for a particular day. This is further apparent from the fact that any payment for overtime or for bonus is not included in computing the total full time earnings, Shankar Balaji Waje v. State of Maharashtra, AIR 1962 SC 517 (523): 1962 Supp (1) SCR 249; see also Manglore Ganesh Beedi Works v. Union of India, AIR 1974 SC 1832. [Factories Act, 1948, s. 80]...
earned income
earned income : income (as wages, salary, professional fees, or commissions) that results from the personal labor or services of an individual compare unearned income ...
earned income credit
earned income credit A tax credit allowed to employed individuals whose income and modified gross income is less than a certain amount. ...
earned premium
earned premium : the difference between the amount of premium paid by the insured and the amount returned to the insured by the insurer upon cancellation of a policy before its term expires ...
earned surplus
earned surplus see surplus ...
earned
Gained as a result of effort or action used especially of income as earned income Contrasted with unearned...
Earned
Earned, the term cannot be divorced from that of income accruing to the assessee, E.D. Sassoon and Co. Ltd. v. Commissioner of Income Tax, AIR 1954 SC 470: (1955) 1 SCR 313. (Indian Income-tax Act, 1922, s. 4)...
Earned leave
Earned leave, performance of duty is the basis of earning leave, Union of India v. Gurnam Singh, (1982) 2 SCC 314: AIR 1982 SC 1265: (1982) 3 SCR 700....
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