Lump Sum Rate - Law Dictionary Search Results
Home Dictionary Name: lump sum rateLump sum rate
Lump sum rate, means the rate mutually agreed upon between a railway administration and a consignor for the carriage of goods and for any service in relation to such carriage. [Railways Act, 1989 (24 of 1989), s. 2 (24)]...
lump sum alimony
lump sum alimony see alimony ...
mortgage
mortgage [Anglo-French, from Old French, from mort dead (from Latin mortuus) + gage security] 1 a : a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or performance according to stipulated terms [shows that a deed was intended only as a "W. M. McGovern, Jr. et al."] b : a lien against property that is granted to secure an obligation (as a debt) and that is extinguished upon payment or performance according to stipulated terms [creditors with valid s against the debtor's property "J. H. Williamson"] c : a loan secured by a mortgage [applied for a ] adjustable rate mortgage : a mortgage having an interest rate which is usually initially lower than that of a mortgage with a fixed rate but which is adjusted periodically according to an index (as the cost of funds to the lender) balloon mortgage : a mortgage having the interest paid periodically and the principal paid in one lump sum at the end of the term of the lo...
Preferential payments
Preferential payments, in bankruptcy, administra-tion of estates of persons dying insolvent, and winding up of a company:-One year's rates and taxes, four months' salaries of clerks up to fifty pounds, and two months' wages of labourers or workmen, up to twenty-five pounds (labourers in husbandry paid partly in a lump sum at the end of the year of hiring to have the whole or proportionate part of that sum). Also sums due under the Workmen's Compensation Acts, the National Insurance Acts (Health and Unemployment and Contributory Pensions). These debts rank equally between them unless the assets are insufficient, in which case they are to abate in equal proportions. By the (English) Bankruptcy Act, 1914 (see s. 34), the preference was extended to apprentices. See the (English) Bankruptcy Act, 1914, s. 33, and the (English) Companies Act, 1929, s. 264, by which these debts are directed to be paid in priority to all others; and by s. 264 (4) (b) of the Companies Act, 1929, these debts are ...
Salami
Salami, 'salami' is a single payment made for the acquisition of the right of the lessor by the lessee to enjoy the benefits granted to him by the lease. That general right may properly be regarded as a capital asset and the money paid to purchase it may properly be held to be a payment on capital account, Maharaja Chintamani Saran Nath Sah Deo v. CIT, AIR 1972 SC 80 (81): (1971) 2 SCC 521: (1972) 1 SCR 36.'Salami' is defined as; 'a free gift by way of compliment or in return of a favour'. Salami is a payment by the tenant as a present or as price for parting by the landlord with his rights under the lease of a holding. It is a lump sum payment as consideration for what the landlord transfers to the tenant, Member for the Board of Agricultural Income Tax v. Sindhurani Chaudhurani, AIR 1957 SC 729 (733): (1955) SCALE 772: 1957 ITR 169.Salami, are (i) its single non-recurring character; and (ii) payment prior to the creation of the tenancy. It is the consideration, paid by the tenant for...
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...
alimony
alimony [Latin alimonia sustenance, from alere to nourish] 1 : an allowance made to one spouse by the other for support pending or after legal separation or divorce compare child support alimony in gross : lump sum alimony in this entry alimony pen·den·te li·te [-pen-den-tē-lī-tē, -pen-den-tā-lē-tā] : alimony granted pending a suit for divorce or separation that includes a reasonable allowance for the prosecution of the suit called also temporary alimony lump sum alimony : alimony awarded after divorce that is a specific vested amount not subject to change called also alimony in gross per·ma·nent alimony : alimony awarded after divorce which consists of payments at regular intervals that may change in amount or terminate (as upon the payee's remarriage) tem·po·rary alimony : alimony pendente lite in this entry 2 : means of living, support, or maintenance [fathers and mothers owe to their illegitimate children ...
gross
gross [Middle English, immediately obvious, from Middle French gros thick, coarse, from Latin grossus] 1 : flagrant or extreme esp. in badness or offensiveness : of very blameworthy character [a violation of the rules of ethics] [a abuse of trust] 2 : consisting of an overall total exclusive of deductions [ annual earnings] compare net gross·ly adv gross·ness n n : overall total exclusive of deductions in gross 1 : as a lump sum see also lump sum alimony at alimony 2 : independently existing, belonging to a person, and not attached to land see also easement in gross at easement vt : to earn or bring in (an overall total) exclusive of deductions (as for taxes or expenses) ...
Cine worker
Cine worker, means an individual--(i) who is employed, directly or through any contractor or other person, in or in connection with the production of a feature film to work as an artiste (including actor, musician or dancer) or to do any work, skilled, unskilled, manual, supervisory technical, artistic or otherwise; and(ii) whose remuneration with respect to such employment in or in connection with the production of such feature film does not exceed, where such remuneration is by way of monthly wages, a sum of one thousand six hundred rupees per month, and where such remuneration is by way of a lump sum, a sum of fifteen thousand rupees. [Child Labour (Prohibition and Regulation) Act, 1986 (61 of 1986), s. 2 (c); see also (50 of 1981), s. 2(c); (50 of 1981), s. 2(l)]...
Damages
Damages, constitute the sum of money claimed or adjudged to be paid in compensation for loss or injury sustained, the value estimated in money, of something lost or withheld, Divisional Controller K.S.R.T.C. v. Mahadeva Shetty, (2003) 7 SCC 197 (202).The expression 'damages' is neither vague nor over-wide. It has more than one signification but the precise import in a given context is not difficult to discern. A plurality of variants stemming out of a core concept is seen in such words as actual damages, civil damages, compensatory damages, consequential damages, contingent damages, continuing damages, double damages, excessive damages, exemplary damages, general damages, irreparable damages, pecuniary damages, prospective damages, special damages, speculative damages, substantial damages, unliquidated damages. But the essentials are (a) detriment to one by the wrongdoing of another, (b) reparation awarded to the injured through legal remedies, and (c) its quantum being determined by t...
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