Levy - Law Dictionary Search Results
Home Dictionary Name: levy Page: 3 Page 3 of about 212 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...
Imposed
Imposed, The word 'imposed' means the actual levy of the tax after authority to levy it has been acquired by rules duly made and sanctioned, and it is such imposition that is made subject to the general or special orders of the Government. Municipality of Anand v State of Bombay, AIR 1962 SC 988: (1962) Supp (2) SCR 366. [Bombay District Municipal Act, 1901, s. 59(1)]...
Impose
Impose, the word 'impose' in s. 59 of the Bombay District Municipal Act means the actual levy of the tax after authority to levy it has been acquired by rules duly made and sanctioned, and it is such imposition that is made subject to the general or special orders of the Government, Municipality of Anand v. State of Bombay, AIR 1962 SC 988 (991). [Bombay District Municipal Act, (3 of 1901), s. 59(1)]...
VerbarLeveacutee en masse
See Levy in mass under Levy n...
lien
lien [Anglo-French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind] : a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or esp. by operation of law ;specif : a security interest created esp. by a mortgage assessment lien : a lien that is on property benefiting from an improvement made by a municipality and that secures payment of the taxes assessed to pay for the improvement attachment lien : a lien acquired on property by a creditor upon levy of an attachment car·ri·er's lien : a lien against freight conferring on the carrier the right to retain the property until the amount due is paid charging lien : a lien attaching to a judgment or recovery awarded to a plaintiff and securing payment of the plaintiff's attorney's fees and expenses called also special lien choate lien : a lien that requires no further action to be made enforceable and th...
Estate duty
Estate duty. A duty first levied by the (English) Finance Act, 1894 (57 & 58 Vict. c. 30), upon the principal value of all property, real or personal, settled or not settled, which passes or is deemed to pass on the death of a person after 1st August, 1894. Property 'passing' on death includes gifts or dispositions by the deceased to another person within three years of death, the estate duty taking the place of the 'account duty,' leviable on such gifts within twelve months of death, by virtue of s. 38 of the (English) Customs and Inland Revenue Act, 1881, as amended by s. 11 of the (English) Customs and Inland Revenue Act, 1889. Property 'passing' on death includes also settled property, in which the life interest is surrendered to the remainderman by the tenant for life within the three years before the death of the tenant for life, by virtue of s. 11 of the Finance Act, 1900 (62 & 63 Vict. c. 7), passed to alter the law as laid down by the Court of Appeal in Attorney-General v. de ...
Sale price
Sale price, 'Sale Price' means the amount payable to a dealer as consideration for the sale of any goods, less any sum allowed as cash discount according to the practice normally prevailing in the trade, but inclusive of any sum charged for anything done by the dealer in respect of the goods at the time of or before the delivery thereof other than the cost of freight or delivery of the cost of installation in case where such cost is separately charged and the expression 'purchase price' shall be construed accordingly, Shree Gopal Industries Ltd. v. State of Rajasthan, AIR 1971 SC 2054: (1971) 2 SCC 532.(ii) Under s. 4 of the Madhya Pradesh General Sales Tax Act, 1958 the liability to pay tax is that of the dealer. The purchaser has no liability to pay tax. There is no provision in the Act from which it can be gathered that the Act imposes any liability on the purchaser to pay the tax imposed on the dealer. If the dealer passes on his tax burden to his purchasers he can only do it by au...
Levite
One of the tribe or family of Levi a descendant of Levi esp one subordinate to the priests who were of the same tribe and employed in various duties connected with the tabernacle first and afterward the temple such as the care of the building bringing of wood and other necessaries for the sacrifices the music of the services etc...
leviable
leviable 1 : that may be levied [a tax] 2 : that may be levied upon [ assets] ...
Excise
In inland duty or impost operating as an indirect tax on the consumer levied upon certain specified articles as tobacco ale spirits etc grown or manufactured in the country It is also levied to pursue certain trades and deal in certain commodities Certain direct taxes as in England those on carriages servants plate armorial bearings etc are included in the excise Often used adjectively as excise duties excise law excise system...
- << Prev.
- Next >>