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taxable income

taxable income : income that is subject to taxation and is characterized by the accrual of some gain or benefit

As it thinks fit

As it thinks fit, the expression 'as it thinks fit' confers a very wide jurisdiction enabling it to take an entirely different view on the same set of facts. The expression 'as it thinks fit' has...

disposable income

disposable income : income available for disposal: as a : the income remaining to an individual after deduction of taxes

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debt-to-income ratio

debt-to-income ratio a comparison or ratio of gross income to housing and non-housing expenses; With the FHA, the-monthly mortgage payment should be no more than 29% of

current monthly income

current monthly income The average monthly income received by the debtor over the six calendar months before commencement of the bankruptcy

Fly for it

Fly for it. On a criminal trial in former times it was usual after the verdict, even if not guilty, to inquire also: 'Did he fly for it ?' Forfeiture of goods followed a conviction upon...

Net annual income

Net annual income, 'net annual income', in relation to a wakf, means net annual income determined in accordance with the provisions

Income Tax Authority

Income Tax Authority, includes income tax officer, assistant appellate commissioner etc and not ITAT. I.T. Commissioner v. B.N. Bhattacharjee,

Income assessed in a foreign country

Income assessed in a foreign country, the ex-pression 'income assessed in the foreign country' would clearly, in the context

Income arising out of business of export

Income arising out of business of export, bring within its sweep not only export of any goods or merchandise

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