Imposed - Law Dictionary Search Results
Home Dictionary Name: imposed Page: 2 Page 2 of about 438 results (0.002 seconds)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...
felony
felony pl: -nies : a crime that has a greater punishment imposed by statute than that imposed on a misdemeanor ;specif : a federal crime for which the punishment may be death or imprisonment for more than a year see also attainder, treason NOTE: Originally in English law a felony was a crime for which the perpetrator would suffer forfeiture of all real and personal property as well as whatever sentence was imposed. Under U.S. law, there is no forfeiture of all of the felon's property (real or personal) and such forfeiture is not part of the definition of a felony. For certain crimes, however (as for a conviction under the Racketeer Influenced and Corrupt Organizations Act or a narcotics law), specific property, such as that used in or gained by the crime, is subject to forfeiture. Every state has its own statutory definition of a felony. Most are in line with the federal definition of a felony as a crime which carries a sentence of imprisonment for more than one year or the death ...
Penalty
Penalty, is a liability under the taxing statute, Khemka & Co. v. State of Maharashtra, AIR 1975 SC 1549.Penalty, is legal or official punishment such as a term of imprisonment, N.K. Jain v. C.K. Shah, AIR 1991 SC 1289. [Employees' Provident Fund Act, 1952, s. 14]Means recovery of an amount as a penal measure in civil proceedings, or an exaction which is not compensatory in character, Jagjit Cotton Textile Mills v. Chief Commercial Superintendent, N.R., (1998) 5 SCC 126.1. A sum agreed to be paid on non-performance of the condition of a bond. See BOND.2. A sum agreed to be paid on breach of an agreement or any stipulation of it. See LIQUIDATED DAMAGES, and NOMINE PEN'. The fact that the parties state expressly in their contract that the sum named is 'liquidated damages' will not prevent the Court from deciding that it is a penalty. 'The cases upon the subject of penalty or liquidated damages are very numerous. The result of them seems to be this, that what the Courts look at is the rea...
Reasonable restriction
Reasonable restriction, the expression 'reasonable restriction' signifies that the limitation imposed on a person in enjoyment of the right should not be arbitrary or of an excessive nature, beyond what is required in the interests of the public. The test of reasonableness, wherever prescribed, should be applied to each individual statute impugned, and no abstract standard, or general pattern of reasonableness can be laid down as applicable in all cases. The restriction which arbitrarily or excessively invades the right cannot be said to contain the quality of reasonableness and unless it strikes a proper balance between the freedom guaranteed in art. 19(1)(g) and the social control permitted by cl. (6) of art. 19, it must be held to be wanting in that quality, Bishamber Dayal Chandra Mohan v. State of Uttar Pradesh, AIR 1982 SC 33 (35): (1982) 1 SCC 39: (1982) 1 SCR 1137.The expression 'reasonable restrictions' signifies that the limitation imposed on a person in enjoyment of that rig...
Tariff
Tariff [Span.], a cartel of commerce, a book of rates, a table or catalogue, drawn up usually in alphabetical order, containing the names of several kinds of merchandise, with the duties or customs to be paid for the same, as settled by authority or agreed on between the several States that hold commerce together.The Customs Tariff Act, 1876, consolidated the then Customs Duties, and some of the duties imposed by that Act are still in force.In 1932 there was a change in the fiscal policy of this country. By the Import Duties Act, 1932 (22 Geo. 5, c. 8), a general ad valorem customs duty of 10 per cent. was imposed on all imports with additional duties on special classes or descriptions of goods. But imports from Dominions were subject to special agreements and the Ottawa Agreements. The 1932 Act set up an Advisory Committee to make recommendations to the Treasury as to additional customs duties. Since this Act several further duties have been imposed. See CUSTOMS.The word 'tariff' has ...
Tax
Tax [fr. tasg, Wel.; taxe, Fr. and Dut.], an impost; a tribute imposed on the subject; an excise; tallage.A monetary charge imposed by government on persons, entities or properly to yield public revenue, Black's Law Dictionary, 7th Edn., p. 1469.Some general principles of taxation have been said to be:-(1) The subjects of every State ought to contribute to the support of the Government as nearly as possible in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the State. In the observation or neglect of this maxim consists what is called the equality or inequality of taxation.(2) The tax which each individual is bound to pay ought to be certain and not arbitrary. The time of payment, the manner of payment, the quality to be paid, ought all to be clear and plain to the contributor, and to every other person.(3) Every tax ought to be levied at the time, or in the manner, in which it is most likely to be co...
Law
Law [fr. lage, lagea, or lah, Sax.; loi, Fr.; legge, Ital.; lex, fr. ligo, Lat., to bind], a rule of action to which men are obliged to make their conduct conformable. A command, enforced by some sanction, to acts or forbearances of a class: see Austin's Jurisprudence; 1 Bl. Com. 38. A principle of conduct may be observed habitually by an individual or a class. When sufficiently formulated or defined to be observed uniformly by the whole of a class it may become a custom; or it may be imposed on all individuals who consent or are unable to resist its application and the sanction or penalty which is imposed for non-compliance, and in that case it becomes a law. If, in addition, the law and its sanction are imposed by, or by authority of a sovereign, the law becomes 'positive' (see Austin's Jurisprudence). Short of positive law the principle may be called a moral or social law. Generally speaking, jurisprudence is concerned only with positive law, and law in its ordinary legal sense mean...
charge
charge 1 a : something required : obligation b : personal management or supervision [put the child in his ] c : a person or thing placed under the care of another 2 : an authoritative instruction or command ;esp : instruction in points of law given by a judge to a jury [conviction…reversed, because of trial court's "W. R. LaFave and A. W. Scott, Jr."] 3 a : an incurred expense b : the price demanded for something (as admission or use) [a finance ] c : a debit to an account ;esp : a debit resulting from unexpected operating expenses [a against earnings] 4 : a formal allegation of an offense or wrongdoing [based on a that was dismissed "National Law Journal"] see also complaint, indictment, information vt charged charg·ing 1 a : to impose a task or responsibility on [was charged with protecting civil rights] b : to command or instruct with authority ;esp : to give a charge to (a jury) [the jury should have been charged on common-law negligence "National Law J...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
Receipt
Receipt, an acknowledgment in writing of having received a sum of money, which is prima facie but not conclusive evidence of payment, Skaife v. Jackson, (1824) 3 B&C 421.The act of receiving something; a written acknow-ledgment that something has been received, Black's Law Dictionary, 7th Edn.A stamp duty first imposed in 1783 was progressively ad valorem, until 1853, when the uniform 1d. rate was imposed; this was increased to 2d. by the Finance Act, 1920.For the purposes of the Stamp Act, 1891, the expression 'receipt' is defined (s. 101) as including--(1) Any note, memorandum, or writing whereby any money amounting to two pounds or upwards, or any bill of exchange or promissory note for money amounting to two pounds or upwards, is acknow-ledged or expressed to have been received or deposited or paid, or whereby any debt or demand, or any part of a debt or demand, of the amount of two pounds or upwards, is acknowledged to have been settled, satisfied, or discharged, or which signifie...
- << Prev.
- Next >>