Itemized Deductions - Law Dictionary Search Results
itemized deduction
Matched in: Term itemized deduction
itemized deductions
Matched in: Term itemized deductions
Deduction
Deduction, for expenses incurred on account of special packing, turnover tax, octroi and bought-out items was admissible for the period. September 1988 to March 1991, subject to the assessee submitting proof of incurring … Deduction, for expenses incurred on account of special packing, turnover tax, octroi and bought-out items was admissible for the
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itemize
itemize -ized -iz·ing : to list in detail or by particulars [ deductions]
deduction
a set amount for a qualified dependent (as under sections 151 and 152 of the Internal Revenue Code) itemized deduction : a deduction for a specifically recorded item that is allowed to be taken from adjusted gross … specifically recorded item that is allowed to be taken from adjusted gross income if the total of such deductions exceeds the standard deduction marital deduction 1 : a deduction allowed under the Internal Revenue Code to be
adjustment to income
adjustment to income An expense that can be deducted even if the taxpayer does not itemize deductions.
Body corporate established by any law
intention seems to be that only subsidies paid by body corporate established by any law, should be deductible items and not subsidies paid by bodies corporate established under any law. Sch. II, item 6(g), Payment of Bonus … the intention seems to be that only subsidies paid by body corporate established by any law, should be deductible items and not subsidies paid by bodies corporate established under any law. Sch. II, item 6(g), Payment of
expense
expense : financial burden or outlay ;specif : an item of business outlay chargeable against revenue for a specific period busi·ness expense : an expense made in furtherance … expense is incurred compare capital expense and personal expense in this entry NOTE: Business expenses are generally tax deductible in the year the expense is incurred. capital expense : an expense made in a business that will
Allowance
a deduction, an average payment, a portion. Also in selling goods, or in paying duties upon them, certain deductions are made from their weights, depending on the nature of the packages in which they are inclosed, and … tenants for life, mortgagees in possession, receivers, and others liable to account, also the admission of claims or items in an account, also payments of a non-obligatory nature by persons sui juris or the Court acting in
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