Sentences with phrase «income tax act if»

An individual can claim tax exemption under section 80E of Income Tax Act if he / she has taken an education loan for higher studies of his / her children, spouse, or himself / herself.

Finally, the Federal Court of Appeal noted that clients may be better served when dealing with complex statutes such as the Income Tax Act if their counsel are able to work collaboratively in furtherance of completing transactions in which the parties have a sufficient common interest.

Not exact matches

If this wasn't enough to get environmentalist in an uproar the government then proposed changes to the income tax act that would require that that charities disclose foreign sources of funds and demonstrate that the organization satisfied the 10 per cent rule for political activities.

Plus, if you're an American, you can take advantage of the Foreign Earned Income Exclusion Act and receive up to $ 104,100 annually in tax - free iIncome Exclusion Act and receive up to $ 104,100 annually in tax - free incomeincome.

Business groups estimate the Health Care Reform Act (HCRA) assessments, if they were counted as normal state taxes, are the third highest tax the state levies after personal income and sales and use taxes, and the single biggest business tax.

The acting IFS director Carl Emmerson said: «The tax and benefit changes are regressive rather than progressive across most of the income distribution.

The calculation is based on a formula in the Income Tax Act regulations which takes the simple average of three - month Treasury bills for the first month of the preceding quarter rounded up to the next highest whole percentage point (if not already a whole number).

If you decide to sell the cottage to your children, be advised the Income Tax Act provides for a five year capital gains reserve and thus, consideration should be given to having the terms of repayment spread out over at least over five years.

Keep in mind, married couples are ineligible for premium assistance tax credits and cost - sharing subsidiaries under the Affordable Care Act if their combined income exceeds the qualifying threshold.

An affected trust will still be treated as a corporate tax entity and lodge a company tax return using its current company TFN for income years on or after 1 July 2016 if it has made a choice, under Subdivision 713 - C of the Income Tax Assessment Act 1997, to be the head company of an income tax consolidated grotax entity and lodge a company tax return using its current company TFN for income years on or after 1 July 2016 if it has made a choice, under Subdivision 713 - C of the Income Tax Assessment Act 1997, to be the head company of an income tax consolidated grotax return using its current company TFN for income years on or after 1 July 2016 if it has made a choice, under Subdivision 713 - C of the Income Tax Assessment Act 1997, to be the head company of an income tax consolidated income years on or after 1 July 2016 if it has made a choice, under Subdivision 713 - C of the Income Tax Assessment Act 1997, to be the head company of an income tax consolidated Income Tax Assessment Act 1997, to be the head company of an income tax consolidated groTax Assessment Act 1997, to be the head company of an income tax consolidated income tax consolidated grotax consolidated group.

You are applying for a CIBC Tax Free Savings Account (the «Plan») and are asking CIBC to please file an election with the Minister of National Revenue to register your Plan as a Tax - Free Savings Account under the Income Tax Act (Canada), and, if applicable, the income tax legislation of the Province indicated in the address you provided in this applicatiTax Free Savings Account (the «Plan») and are asking CIBC to please file an election with the Minister of National Revenue to register your Plan as a Tax - Free Savings Account under the Income Tax Act (Canada), and, if applicable, the income tax legislation of the Province indicated in the address you provided in this applicatiTax - Free Savings Account under the Income Tax Act (Canada), and, if applicable, the income tax legislation of the Province indicated in the address you provided in this applicIncome Tax Act (Canada), and, if applicable, the income tax legislation of the Province indicated in the address you provided in this applicatiTax Act (Canada), and, if applicable, the income tax legislation of the Province indicated in the address you provided in this applicincome tax legislation of the Province indicated in the address you provided in this applicatitax legislation of the Province indicated in the address you provided in this application.

As per Section 80C of the Income Tax Act, you can claim tax deduction up to Rs. 1.5 lakh if you invest in an ELSS fuTax Act, you can claim tax deduction up to Rs. 1.5 lakh if you invest in an ELSS futax deduction up to Rs. 1.5 lakh if you invest in an ELSS fund.

A NextShares fund may permit cash to be substituted for some or all of the Basket instruments when: (a) the instruments are, for the purchase of a Creation Unit, not available in sufficient quantity; (b) the instruments are not eligible for trading by the Authorized Participant or the investor on whose behalf the Authorized Participant is acting; or (c) a holder of Fund shares investing in foreign instruments would be subject to unfavorable income tax treatment if the holder receives redemption proceeds in kind.

If you were to purchase any Canadian investments, you would be subject to tax withholding under Part XIII of the Income Tax Act on any accrued income at either the default rate of 25 % or possibly a lesser rate under any applicable article of Canada's treaty with the Republic of Kortax withholding under Part XIII of the Income Tax Act on any accrued income at either the default rate of 25 % or possibly a lesser rate under any applicable article of Canada's treaty with the Republic of Income Tax Act on any accrued income at either the default rate of 25 % or possibly a lesser rate under any applicable article of Canada's treaty with the Republic of KorTax Act on any accrued income at either the default rate of 25 % or possibly a lesser rate under any applicable article of Canada's treaty with the Republic of income at either the default rate of 25 % or possibly a lesser rate under any applicable article of Canada's treaty with the Republic of Korea.

Dear Ramesh, To prevent tax avoidance through dividend stripping, capital loss set off is not allowed under Income Tax Act, if investment was made within 3 months of dividend record date or redemption was made within 9 months of the dividend record datax avoidance through dividend stripping, capital loss set off is not allowed under Income Tax Act, if investment was made within 3 months of dividend record date or redemption was made within 9 months of the dividend record daTax Act, if investment was made within 3 months of dividend record date or redemption was made within 9 months of the dividend record date.

Paragraph (1)(b) has effect as if the reference to amounts included in assessable income under Subdivision 295 - C included a reference to amounts included in assessable income under former section 274 of the Income Tax Assessment Act 1936: see section 295 - 485 of the Income Tax (Transitional Provisions) Actincome under Subdivision 295 - C included a reference to amounts included in assessable income under former section 274 of the Income Tax Assessment Act 1936: see section 295 - 485 of the Income Tax (Transitional Provisions) Actincome under former section 274 of the Income Tax Assessment Act 1936: see section 295 - 485 of the Income Tax (Transitional Provisions) ActIncome Tax Assessment Act 1936: see section 295 - 485 of the Income Tax (Transitional Provisions) ActIncome Tax (Transitional Provisions) Act 1997.

If they require you to sell and repurchase, Johanna, you could always point out that in - kind transfers are allowed under the Income Tax Act and ask them if they can credit you back for any transaction costs you incur as a resulIf they require you to sell and repurchase, Johanna, you could always point out that in - kind transfers are allowed under the Income Tax Act and ask them if they can credit you back for any transaction costs you incur as a resulif they can credit you back for any transaction costs you incur as a result.

The Pension Protection Act of 2006: If you are 70 - and - one - half years or older, you can make an outright gift to Mostly Mutts Animal Rescue by transferring funds directly from your individual retirement account (IRA) without paying federal income taxes on the distribution.

All that 10000 pages of income Tax Act and the taxeaters needed to give them a ring to see if they like it and out there seeing if they like you.

If this argument that «legal expenses incurred to resist a demand for child support... serve to increase or preserve his income» (at para 25) had been accepted, Grenon would have been able to deduct his legal expenses because those expenses would have then been incurred to gain or produce income, as required by paragraph 18 (1)(a) of the Income Taincome» (at para 25) had been accepted, Grenon would have been able to deduct his legal expenses because those expenses would have then been incurred to gain or produce income, as required by paragraph 18 (1)(a) of the Income Taincome, as required by paragraph 18 (1)(a) of the Income TaIncome Tax Act.

There's provision in the Income Tax Act, s. 15, which basically tells you if you move into the condo, you actually use corporate property.

(5) If, under the Income Tax Act (Canada) or legislation of another jurisdiction that imposes a tax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislIncome Tax Act (Canada) or legislation of another jurisdiction that imposes a tax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislatiTax Act (Canada) or legislation of another jurisdiction that imposes a tax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislatitax calculated by reference to income, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome, a person is required to report the amount of his or her income, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome, the person's income before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome before an accident shall be determined for the purposes of this Part without reference to any income the person has failed to report contrary to that Act or legislincome the person has failed to report contrary to that Act or legislation.

If the above pre-requisites are met, our experienced Canadian tax lawyers are able to make a successful VDP or voluntary disclosure to CRA for the failure to report income earned in a UK ISA or for the failure to file form T1135 as and when required by the Income Tax Atax lawyers are able to make a successful VDP or voluntary disclosure to CRA for the failure to report income earned in a UK ISA or for the failure to file form T1135 as and when required by the Income Taincome earned in a UK ISA or for the failure to file form T1135 as and when required by the Income TaIncome Tax ATax Act.

In addition, proposed changes would require applicants to file Canadian income taxes, if required under the Income Tax Act, in order to be eligible for citizeincome taxes, if required under the Income Tax Act, in order to be eligible for citizeIncome Tax Act, in order to be eligible for citizenship.

Tracing the legislative history of an act can be challenging, and even more so if the act you are looking at is the Income Tax Aact can be challenging, and even more so if the act you are looking at is the Income Tax Aact you are looking at is the Income Tax ActAct.

Another income tax statute in 1894 was overturned in Pollock v. Farmers» Loan & Trust Co. in 1895, where the Supreme Court held that income taxes on income from property, such as rent income, interest income, and dividend income (however excepting income taxes on income from «occupations and labor» if only for the reason of not having been challenged in the case, «We have considered the act only in respect of the tax on income derived from real estate, and from invested personal property») were to be treated as direct taxes.

The reality is that most students would not know a law librarian if one knocked them over the head with the Income Tax Act.

Under the Income Tax Act, it is the responsibility of the legal representative (such as an estate trustee, or the administrator of the estate if probate is not required) to file all required returns for the deceased on a timely basis, pay all tax owing, and advise the beneficiaries whether the amount they receive from... read mTax Act, it is the responsibility of the legal representative (such as an estate trustee, or the administrator of the estate if probate is not required) to file all required returns for the deceased on a timely basis, pay all tax owing, and advise the beneficiaries whether the amount they receive from... read mtax owing, and advise the beneficiaries whether the amount they receive from... read more

CRA agents proceeded to write to the restaurant, stating that it had been selected for an «evaluation» of its electronic records, and that the evaluation was «not an audit, but rather a limited review of your current recordkeeping practices to determine if they are adequate for purposes of the Income Tax Act and Excise Tax Act.»

Since the introduction in 2004 of a 10 - year limitation period for interest and penalty relief under subsection 220 (3.1) of the Income Tax Act, the CRA has administered the provision as if the 10 - year period for applying for relief expires on December 31st of the 10th year following the taxation year assessed (i.e., December 31, 2010 for taxation year 2000).

Income Tax Act: Section 80C of the Income Tax Act provides tax deduction if one makes certain investments or even expenditurTax Act: Section 80C of the Income Tax Act provides tax deduction if one makes certain investments or even expenditurTax Act provides tax deduction if one makes certain investments or even expenditurtax deduction if one makes certain investments or even expenditures.

According to the Income Tax Act of India, if your income is above a certain amount, then you are required to pay the incomIncome Tax Act of India, if your income is above a certain amount, then you are required to pay the income tTax Act of India, if your income is above a certain amount, then you are required to pay the incomincome is above a certain amount, then you are required to pay the incomeincome taxtax.

As per section 192 of the Income Tax Act, the employer will withhold taxes if the employees do not come within the taxable bracket.

If you pay the health insurance premium for your spouse, children, and parents, then are eligible to avail the tax deduction under section 80D of Income Tax Act, 19tax deduction under section 80D of Income Tax Act, 19Tax Act, 1961.

If you fail to pay this tax, there would be interest charged on your final tax account, under the Section 234 B, and 234 C, of the Income Tax Atax, there would be interest charged on your final tax account, under the Section 234 B, and 234 C, of the Income Tax Atax account, under the Section 234 B, and 234 C, of the Income Tax ATax Act.

If an individual has taken a home loan, then he / she can claim exemption for the settlement of the principal amount of the home loan under section 80C of Income Tax Act.

In order to encourage the culture of saving and to direct the savings of an individual into the right resources, the Government of India permits tax exemptions, but only if the savings are invested in instruments as listed under section 80C, 80CCC, and 80CCD of Income Tax (IT) Atax exemptions, but only if the savings are invested in instruments as listed under section 80C, 80CCC, and 80CCD of Income Tax (IT) ATax (IT) Act.

Under Section 80D of the Income Tax Act, 1961, a maximum investment of INR 1, 50,000 is exempted from your tax liability, if you invest in PTax Act, 1961, a maximum investment of INR 1, 50,000 is exempted from your tax liability, if you invest in Ptax liability, if you invest in PPF.

Under Section 87A of the Income Tax Act, salaried individuals are supposed to receive a tax rebate of up to Rs 2500, if they fall under the taxable income slab of up to Rs 3.5 Income Tax Act, salaried individuals are supposed to receive a tax rebate of up to Rs 2500, if they fall under the taxable income slab of up to Rs 3.5 lakTax Act, salaried individuals are supposed to receive a tax rebate of up to Rs 2500, if they fall under the taxable income slab of up to Rs 3.5 laktax rebate of up to Rs 2500, if they fall under the taxable income slab of up to Rs 3.5 income slab of up to Rs 3.5 lakhs.

For instance, if a single premium payment is opted for, then the insured will only receive a tax deduction up to the limits specified under section 80C of the Income Tax Atax deduction up to the limits specified under section 80C of the Income Tax ATax Act.

If you need to furnish a report of audit specified under sections 10 (23C)- (IV), (v), (VI), (via), or 10A, 12A (1)(b), 44AB, 80IA, 80IB, 80IC, 80ID, 80JJAA, 80LA, 92E or 115JB of the Income Tax Act.

The death benefit your family receives from the endowment life plan is tax free under Section 10 (10d) of the income tax act even if the premiums paid in any year exceeds 10 % of the sum assured on the endowment life plan.

Tax benefits under Section 80C (Up to Rs. 1.5 Lacs) and 10 (10D) of the Income Tax Act is provided if the premiums are paid on time.

Premium paid for Critical Illness Rider and Hospital Cash Benefit Rider, if opted, may qualify for a deduction under Section 80D of the Income Tax Act, 1961.

Tax deductions under Income Tax Act's Section 80U are made available for Rs. 1.25 lakhs if there are severe disability and Rs. 75, 000 for the individuals with disabilities.

The Income Tax Act offers a deduction up to Rs. 1.5 lakh if the sum is invested in the right vehicle.

As per the Income Tax Act 1961, investing in medical insurance is an important step, if you want to enjoy the benefits of tax deductioTax Act 1961, investing in medical insurance is an important step, if you want to enjoy the benefits of tax deductiotax deductions.

Under life insurance policy, in case the policyholder suffers from the critical illness or severe disability then under the specified sections of Income Tax Act, the 10 % 0f the limit is increased to 15 % if the policy is issued after 01.04.2013.

Besides the major benefits listed, if you purchase a joint life insurance plan you are also eligible for availing tax benefits on the premiums paid as per the Income Tax Act of 19tax benefits on the premiums paid as per the Income Tax Act of 19Tax Act of 1961.

The maturity benefits paid (in case of term plans with return of premium option) and also the claim amount (if any, received by your nominee) is also tax free under Section 10 (10D) of the income Tax Act 19tax free under Section 10 (10D) of the income Tax Act 19Tax Act 1961.