Sentences with phrase «total income for tax purposes»

It's important to remember however that this is your total income for tax purposes only, and not your absolute total income.

Not exact matches

I would personally recommend you reduce equity exposure to 60 % total if and when there is a correction in the bond market, specifically muni bonds for tax purposes based on your income.

On average, the federal government contributes about 10 percent to the total amount spent on public education, but these dollars account for a larger portion of many high - poverty districts» budgets.11 For example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lafor a larger portion of many high - poverty districts» budgets.11 For example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned laFor example, Los Angeles Unified School District and Chicago Public Schools — both high - poverty districts — receive about 15 percent of their budgets from the Education Department.12 These dollars serve essential purposes, such as supplementing services for low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lafor low - income students, defraying the cost of individualized education programs for students with disabilities, and compensating for a loss of property tax due to federally owned lafor students with disabilities, and compensating for a loss of property tax due to federally owned lafor a loss of property tax due to federally owned land.

Tax - free on the other hand implies income that is not taxable in the hands of investors i.e. the income from such tax - free source is not included in the total income for the purpose of computation of total tax liabiliTax - free on the other hand implies income that is not taxable in the hands of investors i.e. the income from such tax - free source is not included in the total income for the purpose of computation of total tax liabilitax - free source is not included in the total income for the purpose of computation of total tax liabilitax liability.

I am a retired senior citizen having an annual income of less than 3 lakhs from interest on deposits, EPF pension etc and hence not liable to pay income tax.Of late my wife who is not employed but a senior citizen got some amounts by way o f family settlements after her mother's death which she deposited in her name and the total annual of interest comes to about Rs 1.5 lakhs.According to her the income from her investments can not be clubbed Will her income be added to my income for the purpose of ascertaining my income tax liability.She has a separate pan no.earlier taken as she had rental income.

The sacrificed component of your total salary package is not counted as assessable income for tax purposes.

If investment proofs are submitted to the employer for the purpose of claiming deductions and the total taxable income of the person also happens to be below the existing tax limit then a person shall not be expected to pay any tax.

To be more specific on the 2 years comment, you would need to get 2 years of tax returns showing this property's returns in order for banks to consider the income it generates as part of your total income for purposes of qualifying on a new mortgage.