T Dictionary
Tax free dividend
Tax free dividend, cannot mean that the dividend would not be liable to tax in the hands of the share-holder, AIR 1964 Mad 83 (87)....
Tax invoice
Tax invoice, means an invoice in such form and containing such particulars as may be prescribed. [West Bengal Value Added Tax Act, 2003, s. 2(48)]...
tax lien
tax lien see lien ...
Tax on income
Tax on income, embraces any profit or gain which is actually received or notionally accrued, A Commentary on the Constitution of India, Durga Das Basu, 4th Edn., Vol. 5, p. 412.Tax on income, is a tax on the money or other gain periodically received by an individual, corporation etc., Webster American Dictionary, p. 737....
Tax payable
Tax payable, means tax payable under this Act on sales or purchase effected by a dealer or casual dealer but does not include tax due as defined in clause (46). [West Bengal Value Added Tax Act, 2003, s. 2(49)]Means the full amount of tax which becomes due when assessed on the basis of the information regarding turnover and taxable turnover furnished or shown in the return, J.K. Synthetices Ltd. v. Commercial Taxes Officer, AIR 1994 SC 2393. (See also Rajasthan Sales Tax Act, 1954, s. 1113)The tax payable is the amount for which a demand notice is issued under s. 156. In determining the tax payable, the tax already paid has to be deducted. Hence, there can be no doubt that the expression 'the amount of the tax, if any, payable by him' referred to in the first part of s. 271(1)(a)(i), refers to the tax payable under a demand notice. Considering the words 'the tax' found in the latter part of that provision. It may be noted that the expression used is not 'tax' but the 'the tax'. The def...
Tax period
Tax period, means a calendar month or a quarter as may be prescribed by the State Government. [Gujarat Value Added Tax Act, 2003, s. 2(28)]Means such period as may be notified by the State Government in this behalf. [West Bengal Value Added Tax Act, 2003, s. 2(50)]...
tax preference item
tax preference item : an item (as an amount of depreciation) favorable to a taxpayer in the ordinary computation of tax liability that is taxed in the computation of alternative minimum tax ...
Tax Recovery Officer
Tax Recovery Officer, means a Tax Recovery Officer appointed by the State Government under sub-s. (4) of s. 55. [West Bengal Value Added Tax Act, 2003, s. 2(51)]...
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 return
tax return : return ...