Transfer Tax - Law Dictionary Search Results

generation-skipping transfer tax

Matched in: Term generation-skipping transfer tax

unified transfer tax

Matched in: Term unified transfer tax

transfer tax

Matched in: Term transfer tax

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Gift, 'transfer of property

Matched in: Term Gift, 'transfer of property

or of the ownership in immovable property for a money consideration. But, in exchange, there is a reciprocal transfer of interest in immovable property. A corresponding transfer of interest in movable property being denoted by the word … payment or other valuable considera-tion but does not include a mortgage, hypotheca-tion, charge or pledge. [Maharashtra Value Added Tax Act, 2002, s. 2(24)] Means a sale of goods made within the State for cash, deferred payment or

Gift

is obsolete. See Jac. Law Dict. A gift is now understood to mean a mere voluntary assurance or transfer of property without any consideration being given for it. Such a transaction is apt to be very jealously … part thereof referred to in clause (iii), Clause (iii-a) or clause (iii-b) of s. 27 of the Income Tax Act, 1961 by the person who is deemed under the said clause to be the owner thereof made

Transfer

Matched in: Term Transfer

Consideration

property. In its widest sense consideration is the price, motive or inducement for a promise or for a transfer of property from one person to another. The nature or quality of the consideration which will be sufficient … applied his mind to the particular subject-matter or the particular source of income with a view to its taxability or to its non-taxability and not to any incidental connection', C.I.T v. Gurjargravures (P.) Ltd., AIR 1978 SC

trust

are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee … all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being

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