Income in kind definition

Income in kind means goods, commodities or services, valued according to their fair market value, that are provided to a person or to a third party on such person’s behalf in lieu of cash that is owed to such person;
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Income in kind means any property received into ownership or beneficial use (without acquiring the ownership right), or services received gratuitously, in exchange or at a favourable price (at less than the fair market value set for a particular individual due to the influence of certain interests or transactions), as well as any other benefit (if a benefit giver had a purpose of giving benefit to a particular person), when the equivalent of the property, services or other benefit received in monetary terms would be included in income under the provisions of this Law.
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Income in kind means goods or services applicant free of charge;
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Examples of Income in kind in a sentence

  • Income in kind (goods and services) and other goods received as transfers in kind should be valued at market prices for equivalent goods and services.

  • Income in kind is valued at purchasers’ prices if the employer has purchased the goods or services that are being provided to the employees.

  • Income in kind covers, when available in the national data sources, goods produced directly by the household through either a private or a professional activity (e.g. own production of food by farming households or a household whose leisure activity is connected with agriculture; products from hunting or fishing; withdrawals from stocks by trades people...).

  • Income in kind is included in the overall income, both due to the specific situation in Serbia which implies that income in kind may represent a significant share in the overall income in some households, and due to the trends present on the EU level.

  • Operator – An individual, partnership, nonprofit or profit-making association or corporation or other person or group of persons who maintain, operate, manage, own, have custody of or otherwise possess the right to rent or lease overnight accommodations in a Hotel to the public for Consideration, including the agents of such individuals.

  • Income in kind of an employee shall be value of such goods (works, services), including relevant amount of value added tax and excise.

  • The amended plan was approval by the Bishops in mid-August 2014 for the distribution of the 2015 schools grants for the NSW Catholic schools system.

  • Income in kind is any support or maintenance received in kind from a person other than a responsible relative for: (1) Housing.

  • Classification, estimation, analysis and dissemination 62 Classification 62 Valuation methods 63 Income in kind (goods and services), transfers and own production (goods) 63 Owner-occupied dwelling 64 Durable goods 68 Social transfers in kind 68 Estimation 69 Analysis 70 Dissemination 73 8.

  • Income in kind is exempt when: • It is provided on the basis of need by a private, nonprofit organization.


More Definitions of Income in kind

Income in kind means any noncash item or service received that is not deducted from other income to which the recipient of that noncash item or service is entitled.
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Income in kind means any noncash item or service received that is not deducted from other income to which the recipient is entitled.
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Related to Income in kind

  • Net Income (Loss) means with respect to any Person and for any period, the aggregate net income (or loss) after taxes of such Person for such period, determined in accordance with GAAP.

  • Net Income means, with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends.

  • Gains means, with respect to any Party, an amount equal to the present value of the economic benefit to it, if any (exclusive of Costs), resulting from the termination of a Terminated Transaction, determined by it in a commercially reasonable manner.

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Accounting Date means the thirtieth day of June in each year and any interim date on which the financial statements of the Trust are drawn up. Provided that the Management Company may, with the written consent of the Trustee and after obtaining approval from the Commission and the Commissioner of Income Tax may change such date to any other date and such change shall be intimated to the Commission.

  • Accounting Event has the meaning set forth in the Supplemental Indenture.

  • Disposable income means that part of the income due and payable of any individual remaining

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus (x) the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness and (y) After-Tax Transitional Funding Instrument Revenue for such period.

  • Consolidated Net Income means, with respect to any specified Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that:

  • Consolidated Assets means all assets which should be listed on the consolidated balance sheet of the Borrower and its Subsidiaries, as determined on a consolidated basis in accordance with GAAP.

  • EBIT means earnings before interest and taxes.