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PWD: Tamil Nadu Architect Service Rules; PWD: Rules forTamil Nadu Boiler Service; Stationery and Printing Department : Services Rules; Public and Rehabilitation Department : Service Rules
The "uniform capitalization rules" or UNICAP rules were essentially a codification of the result of case of Commissioner v.Idaho Power Co., 418 U.S. 1 (1974) The UNICAP rules require a taxpayer to capitalize all direct and indirect costs that they incur in the production of real or tangible personal property that are allocable to that property.
However, some property, despite being physical in nature, is classified in many legal systems as intangible property rather than tangible property because the rights associated with the physical item are of far greater significance than the physical properties. Principally, these are documentary intangibles.
The distinction between tangible and intangible personal property is also significant in some of the jurisdictions which impose sales taxes. In Canada, for example, provincial and federal sales taxes were imposed primarily on sales of tangible personal property whereas sales of intangibles tended to be exempt.
The system followed in government office is called "Tottanham's System". There will be an office Manager who is otherwise called as "The Sarishtadar" will exercise supervision and control over all sections and the heads of sections. He must periodically inspect the Personal Registers and see that they are punctually, neatly and properly maintained.
The Hall income tax was a Tennessee state tax on interest and dividend income from investments. [1] It was the only tax on personal income in Tennessee, which did not levy a general state income tax. The tax rate prior to 2016 was 6 percent, applied to all taxable interest and dividend income over $1250 per person ($2500 for married couples ...
Real property is considered placed in service in the middle of the month in which acquired ("mid-month convention"). Special rules apply for pro rating deductions for short tax years and for the first year of business, or where more than 40% of tangible personal property additions are in the final quarter of the year. [5]
Further, use of the property before sale may defeat the resale exemption. [28] Goods purchased for free distribution may be taxed on purchase in some states, and not in others. [29] Goods purchased to be used as ingredients in manufacturing tangible personal property are generally not taxable.