Noun
taxable income (plural taxable incomes)
The base upon which an income tax system imposes tax.
Among other requirements, a Regulated Investment Company (NYSEMKT:) is required to pay out 90% of its investment company taxable income so it will not be taxed as a corporation. Source: Internet
A similar issue arises in deciding if interest paid on loans should be deductible from the taxable income since that interest is in-turn taxed as income to the loan provider. Source: Internet
In accordance with the PRC tax law applicable to those companies in their respective jurisdictions, tax losses may be carried forward against future taxable income. Source: Internet
If the taxable income of an NRI/OCI is expected to be under the tax exemption limit, he/she can apply to the Tax Department for a no-TDS certificate, which they can then furnish to the income payer. Source: Internet
In the case of designated Roth contributions, the contributions being made on an after-tax basis means that the taxable income in the year of contribution is not decreased as it is with pre-tax contributions. Source: Internet
In the government’s first budget (presented to the Chilean congress in November 1970), the minimum taxable income level was raised, removing from the tax pool 35% of those who had paid taxes on earnings in the previous year. Source: Internet