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A company's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, [1] pronounced / ˈ iː b ɪ t d ɑː,-b ə-, ˈ ɛ-/ [2]) is a measure of a company's profitability of the operating business only, thus before any effects of indebtedness, state-mandated payments, and costs required to maintain its asset base.
For tax purposes, for example, the timing of payment may determine whether it qualifies as a deduction in a taxpayer's calculation of taxable income in one year or the next. For U.S. tax purposes, cash payments generally are taken to occur at the time of payment.
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income.
And after that, those who have thus been tithed shall pay one-tenth of all their interest annually; and this shall be a standing law unto them forever, for my holy priesthood, saith the Lord. — Doctrine and Covenants 119:3–4 (see also Doctrine and Covenants 64:23–24 )
A tax shield is the reduction in income taxes that results from taking an allowable deduction from taxable income. [1] For example, because interest on debt is a tax-deductible expense, taking on debt creates a tax shield. [ 1 ]
[42] However, in 1895 income taxes derived from property such as interest, dividends, and rent (imposed under an 1894 Act) were treated as direct taxes by the Supreme Court in Pollock v. Farmers' Loan & Trust Co. and were ruled to be subject to the requirement of apportionment. [ 43 ]
This was modified to 3.5% (Three and a half percent) for Interest accrued since 31 March 1983, 3% (Three percent) subject to certain conditions since 31 March 1992, 2% (Two percent) since 31 March 1997, and no Interest Tax accruing or arising after 31 March 2000.all over India in govt tax 15.5% total act of 1974 adhiniyam to in India
Interest is payment from a borrower to a lender of an amount above repayment of the amount borrowed, at a particular rate. Interest may also refer to: Interest (emotion), a feeling that causes attention to focus on an object, event, or process. Government interest, a concept in law that allows the government to regulate a given matter