Payer - Law Dictionary Search Results

Home Dictionary Name: payer

Rate payer

Rate payer, 'rate payee' means a person liable to pay any rate, tax, cess or licence fee under this Act. [New Delhi Municipal Council Act, 1994 (44 of 1994), s. 2(41)]...

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...

In the pay of

In the pay of, in Shorter Oxford English Dictionary the expression 'in the pay of' is defined thus: To give money, etc., in return for something or in discharge of an obligation. Of a thing or action. To yield an adequate return. To give money or other equivalent value for. Similarly 'Payer' is defined thus: One who pays a sum of money. In Webster's Third New International Dictionary the expression 'in the pay of' is indicated to mean: Compensate, remunerate, satisfy, reimburse, indemnify, recompense, repay, M. Karunanidhi v. Union of India, AIR 1979 SC 898 (912): (1979) 3 SCC 431: (1979) 3 SCR 254.The phrase 'in the pay of' in clause Twelfth (a) does not inhere a master-servant or command-obedience relationship between the Government as the payer and the public servant as the payee and may comprehend a situation that the person may be in the pay of the government without being in the employment of the government or without there being a master-servant relationship, R.S. Nayak v. A.R. ...

Malguzar

Malguzar, the word 'malguzar' means, primarily, rent payer. It may equally be applied either to a tenure-holder or a raiyat in North Bihar to mean tenure-holder, Uchit Kopri v. Adhik Mandal, AIR 1925 Pat 194....

Taxation

Taxation, is a tax levy; the principle of levying taxes, Webster American Dictionary, p. 1494.Taxation, is levying charge, a pecuniary burden, for the support of government, by authority of the legislature. The consent of the tax-payer is not necessary to its enforcement, A Dictionary of Law, Willium C. Anderson, 1889, p. 1006.Taxation, no Bill or amendment seeking permission for imposition, abolition, remission, alteration or regulation of any tax can be introduced or moved except on the recommendation of the President and such a Bill cannot be introduced in Rajya Sabha. [Constitution of India, Art. 117(1)]Taxation, no taxation without representation can be levied or collected except by authority of law, Constitution of India, Art. 265.Taxation, though the expression 'taxation', as defined in Art. 366(28), 'includes the imposition of any tax or impost, whether general or local or special', the amplitude of that definition has to be cut down if the context otherwise so requires. In re ...

Tax stradle rule

Tax stradle rule, means the rule that a tax-payer may not defer on tax liability by investing a short-term capital gain in a commodities for future option i.e., investment vehicles whose values formerly did not have to be recorded at the end of the year, to create the appearance of a loss in the current tax year, Black's Law Dictionary, 7th Edn., p. 1475.Means good other than those specified in Sch. A. [West Bengal Value Added Tax Act, 2003, s. 2(47)]...

Tax refund

Tax refund, means the money that a tax-payer overpaid and is thus returned by the taxing authority, Black's Law Dictionary, 7th Edn., p. 1475....

Tax and fee-distinction

Tax and fee-distinction, a tax is a compulsory exaction of money by a public authority for public purposes enforceable by law and is not payment 'for services rendered'. This definition brings out the essential characteristics of a tax as dis-tinguished from other forms of imposition which, in a general sense, are included within it. The essence of taxation is compulsion, that is to say, it is imposed under statutory power without the taxpayer's consent and the payment is enforced by law. The second characteristic of tax is that it is an imposition made for public purpose without reference to any special benefit to be conferred on the payer of the tax. On the other hand A fee is generally defined to be a charge for a special service rendered to individuals by some govern-mental agency. But the traditional view that there must be actual quid pro quo has undergone a sea change with the passage of time. Correlation-ship between the levy and the services rendered/expected is one of general...

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...

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