Exemption - Law Dictionary Search Results
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exemption 1 : the act of exempting or state of being exempt 2 : one that exempts or is exempted: as a : an amount of income exempted from taxation that may be deducted from adjusted gross income under the tax laws see also Internal Revenue Code in the Important Laws section compare deduction, exclusion, tax credit de·pen·den·cy exemption [də-pen-dən-sē-] : an exemption that is allowed for each dependent who qualifies under the tax laws (as sections 151 and 152 of the Internal Revenue Code) NOTE: Under the federal income tax laws, the dependency exemption is allowed for each dependent whose gross income is less than the exemption or who is a child of the taxpayer and is under 19 or a student under 24. per·son·al exemption : an exemption that is allowed for the taxpayer or for the taxpayer and spouse if filing a joint return b : the right created by federal and state laws to exempt specified types of property from a bankruptcy estate [pre...
Exemption
The act of exempting the state of being exempt freedom from any charge burden evil etc to which others are subject immunity privilege as exemption of certain articles from seizure exemption from military service exemption from anxiety suffering etc...
homestead exemption
homestead exemption : an exemption from liability that prevents creditors from obtaining satisfaction from a debtor's homestead see also declaration of homestead at declaration NOTE: The laws governing the homestead exemption vary greatly from state to state. Most states have limits on the amount for which a debtor is exempted, but a few have no limits at all. Others have limits that are dependent on the size or type of property, or the age of the property owner. ...
dependency exemption
dependency exemption see exemption ...
personal exemption
personal exemption see exemption ...
Exemption
Exemption, immunity; freedom from imposts; a privilege to be free from service or appearance.Freedom from a duty, liability or other requirement, Black's Law Dictionary, 7th Edn., p. 594.The words 'exemption' or other modification are wide enough to enable the Central Government to give rebate such as has been allowed under the Concession Order, Commissioner of Income Tax v. Anant Rao B. Kamat, AIR 1966 SC 279: (1964) 8 SCR 263.Is the freedom or release from a liability, obligation, Webster American Dictionary, p. 405.Under the Constitution of India execution is available to the property of the Union from State taxation, Constitution of India, Art. 285.Is available from taxes on electricity, Constitution of India, Art. 287.Applies only to the extent the trade or business is incidental to the ordinary functions of the Govern-ment, Constitutions of India, Art. 289(3).Is the privilege of being excepted, excused, freed from the operation of a law, A Dictionary of Law, William C. Anderson, ...
Exemption provision
Exemption provision, an 'exemption provision' is like an exception and on normal principle of construction or interpretation of statutes it is construed strictly either because of legislative intention or on economic justification of inequitable burden or progressive approach of fiscal provisions intended to augment state revenue, Union of India v. Wood Papers Ltd., AIR 1991 SC 2049 (2051): (1990) 4 SCC 256....
Exemption, permission
Exemption, permission, Foreign Exchange Regula-tion Act, uses diverse words like, 'authorise', 'exempt' and 'permission' in different parts. The word 'exempt' shows that a person is put beyond the application of law, while 'permission' shows that he is granted leave to act in a particular way. But the word 'permission' is a word of wide import. 'Permission' in this s. means only leave to do some act which but for the leave would be illegal. In this sense, exemption is just one way of giving leave, Dharrajamal Gobindram v. Sharmji Kalidas, AIR 1961 SC 1285 (1290). [Foreign Exchange Regulation Act, (7 of 1947), ss. 21, 5]...
numerical limit, exempt from
numerical limit, exempt from Those aliens accorded lawful permanent residence who are exempt from the provisions of the flexible numerical limit of 675,000 set by the Immigration Act of 1990. Exempt categories include immediate relatives of U.S. citizens, refugees, asylees (limited to 10,000 per year), Amerasians, aliens adjusted under the legalization provisions of the Immigration Reform and Control Act of 1986, and certain parolees from the former Soviet Union and Indochina. Source: U.S. Citizenship and Immigration Services ...
Exempted employee
Exempted employee, means an employee to whom a Scheme or the Insurance Scheme, as the case may be, would, but for the exemption granted under s. 17 have applied. [The Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), s. 2 (ff)]Exempted employee means an employee who is not liable under this Act, to pay the employee's contribution. [Employee's State Insurance Act, 1948 (34 of 1948), s. 2(10)]...
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