Personal Deduction - Law Dictionary Search Results
personal deduction
personal deduction see deduction
personal exemption deduction
personal exemption deduction see deduction
trust
beneficiaries whose interests in the trust are declared to be personal property called also Illinois land trust naked land trust living … taxable estate. Such trusts do not qualify for the marital deduction. charitable lead trust [-lēd-] : a trust in which a
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Allowance
by law or in equity to persons such as trustees, personal representatives, tenants for life, mortgagees in possession, receivers, and others … alogar, Prov.; louer, allouer, Fr., to place or assign], a deduction, an average payment, a portion. Also in selling goods, or
deduction
a business activity or an activity engaged in for profit personal exemption deduction : a deduction for an amount set by
expense
in which the expense is incurred compare capital expense and personal expense in this entry NOTE: Business expenses are generally tax … expense in this entry NOTE: Business expenses are generally tax deductible in the year the expense is incurred. capital expense :
Intoxicating liquor
than eight transfer sessions. The cases in which and the persons to whom a transfer can be granted are set out … as part of the corresponding Excise Licence duties, and a deduction can be made in respect of them in Income Tax
Purchase price
the amount of valuable consideration paid or payable by a person for any purchase made including any sum charged for anything … a work contract, such amount as is arrived at by deducting from the amount of valuable consideration paid or payable by
property
the court determines is equitable. movable property : property (as personal property or crops) that can be moved personal property 1 … passing to a surviving spouse that qualifies for the marital deduction if the executor so elects providing that the spouse is
Personal expenses
Personal expenses, would include expenses on the person of the assessee … or purposes not related to the business for which the deduction is claimed, State of Madras v. G.J. Coelho, AIR 1965
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