Income Tax. During each taxation year, the participating employee's income tax liability shall be in accordance with the Income Tax Act and directives from Canada Revenue Agency. Similarly, the withholding tax deducted at source by the College shall be in accordance with the Income Tax Act and directives from Canada Revenue Agency.
Income Tax. Notwithstanding the foregoing, income tax shall be deducted in accordance with applicable legislation. Any employee entering the Plan will be subject to tax in each year of the Plan only on the amount of income actually received in the year. The interest referred to in "Salary Formula" Sections (ii) and (iv), when paid, will be viewed as normal remuneration in the hands of the employee and not as interest income, and the tax to be withheld by the Board shall be based on the amount actually paid to the employee.
Income Tax. For purposes of this Section 7, the term "Income Tax" means any Tax based on or measured by gross or net income or receipts (other than sales, use, license or property Taxes or Taxes in the nature thereof) (including, without limitation, capital gains taxes, minimum taxes, income taxes collected by withholding and taxes on tax preference items), and Taxes which are capital, doing business, excess profits or net worth taxes and interest, additions to tax, penalties, or other charges in respect thereof.
Income Tax. You are solely responsible for any individual tax implications or benefits resulting from using your residence as an Alternate Worksite or any other aspect of Telework. The Commonwealth will not provide tax guidance, nor will the Commonwealth assume any additional tax liabilities. You are encouraged to consult with a qualified tax advisor to discuss tax implications.
Income Tax. I. Time deposit interests accrue at the board rate from the time deposits are placed, for which the Bank is obligated by tax law to withhold taxes from interest income.
II. Tax-exempt persons are required to produce proof when collecting interest payments, or apply for tax refund before the 5th day of the following month.
Income Tax. For purposes of this Section 7.1, the term "Income Tax" means any Tax based on or measured by or with respect to gross income (in lieu of net income) or net income (including without limitation, capital gains taxes, personal holding company taxes, minimum taxes and tax preferences) or gross receipts (in lieu of net receipts) or net receipts and Taxes that are capital, net worth, conduct of business, franchise or excess profits taxes and interest, additions to tax, penalties, or other charges in respect thereof (provided, however, that Taxes that are, or are in the nature of, sales, use, rental, excise, ad valorem, stamp, transfer, license, value added, or property (whether tangible or intangible) taxes shall not constitute an Income Tax).
Income Tax. 3.01 The University shall make the required deductions from the participant’s earnings during the deferral period. The deductions shall be computed based on the earnings for the applicable calendar year, less the deferred salary for that calendar year.
3.02 The amounts paid to the participant during the leave are taxable and subject to prescribed withholdings as though they were part of the participant’s earnings for the calendar year in question.
Income Tax. For purposes of this Section 7.1, the term "Income Tax" means any Tax based on or measured by or with respect to gross or net income (including without limitation, capital gains taxes, personal holding company taxes, minimum taxes and tax preferences) or gross or net receipts and Taxes which are capital, net worth, conduct of business, franchise or excess profits taxes and interest, additions to tax, penalties, or other charges in respect thereof (provided, however, that Taxes that are, or are in the nature of, sales, use, rental, value-added, excise, ad valorem, or property (whether tangible or intangible) taxes shall not constitute an Income Tax).
Income Tax. IT TDS will be applicable if contract value is in excess of Rs. 30,000/- or if payment exceeds Rs. 1,00,000/- in a financial year to contractor.
Income Tax. Income tax shall be deducted at source as per provisions of the Income Tax Act and a certificate such deduction made in each financial year shall be furnished to the contractor by the disbursing officer.
