Operating Expenses - Law Dictionary Search Results
operating expenses
Matched in: Term operating expenses
expense
busi·ness expense : an expense made in furtherance of one's business esp. as part of the cost of operating a business in the taxable year in which the expense is incurred compare capital expense and personal expense … year in which the 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
charge
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
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Income or net income
income obtained after deducting all expenses incurred for the purpose of earning the income. It is income minus operating expenses, D.C.M. v. S. Paramjit Singh, AIR 1990 SC 2286 (2288). [J&K Houses and Shops Rent Control Act, 1966,
lease
to assume all operation expenses (as for maintenance, insurance, and taxes) in addition to the payment of rent operating lease : a lease of property and esp. equipment for a term which is shorter than the property's
home office expense
home office expense Expenses arising from operating a business in a qualified manner in your home.
operating
Matched in: Term operating
loss
loss : consequential loss in this entry net op·er·at·ing loss : the amount by which the expenses of operating a business exceed the income derived from it see also carryback, carryover ordinary loss : a loss from
Once and for all
for procuring an enduring benefit to the business as distinguished from a recurring expenditure in the nature of operational expenses, CIT v. Coal Shipment (P) Ltd., AIR 1972 SC 541: (1971) 3 SCC 736: (1972) 1 SCR
Executor
of an executor may be thus classed:- (1) He will not be allowed as against creditors extravagant funeral expenses if the testator died insolvent; and if he neglects to secure the property, and loss ensue, he will … responsible for mere neglect to take out probate (Re Stevens, (1898) 1 Ch 162). See DEVASTAVIT. (2) By operation of law by virtue of his office he takes a title to the personal property of the testator
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