ordinary income

(redirected from Regular Income)

Ordinary income

The income derived from the regular operating activities of a firm or individual.

Ordinary Income

In taxation, income from wages or salaries, interest, or commissions. Ordinary income is received in the short-term; for example, one usually receives a paycheck every two weeks or interest on a bond a few times per year. Ordinary income differs from capital gain, which is income from investment and is usually realized over a longer period of time. Most ordinary income is taxed at a higher rate than capital gain, so as to encourage long-term investment. In the United States, dividends were taxed as ordinary income, but this changed in 2003. One may think of ordinary income as income from one's job and/or standard business transactions.

ordinary income

Income that does not qualify for special tax treatment. Wages, dividends, and interest are ordinary income.

ordinary income

Income subject to full or ordinary taxation rates. Contrast with capital gains.
References in classic literature ?
Douglas says that no one can be considered as possessing a regular income. One of the richest land-owners might possibly accumulate, in a long industrious life, as much as 1000 pounds sterling; but should this happen, it would all be stowed away in some secret corner, for it is the custom of almost every family to have a jar or treasure-chest buried in the ground.
Giving break up, the report said that the Defence Saving Certificates (DSC) receipts increased from Rs8.3 billion in FY18 to Rs44.6 billion in FY2019, showing an increase of Rs36.3 billion, the Special Savings Certificates (SSC) receipts increased from minus Rs38.5 billion to Rs33.1 billion, showing growth of Rs71.6 billion whereas the Regular Income Certificates (RIC) increased from Rs1.9 billion to Rs102.9 billion, a growth of Rs100.9 billion.
The tax payers were maintaining their documentations and being regular income tax filers must be given extra relief in the budget, he added.
The Government has given the green light for a new pension scheme that pays out a regular income from a collective fund, rather than savers producing individual pots.
The return on Regular Income Certificates was increased to 12pc of total investment compared to existing rate of 9.72pc that has improved from 7.63pc since June 30.
Defense Savings Certificates jumped by 0.75 per cent, with the new rate at 9.05 per cent, while Regular Income Certificates rose by 0.74 per cent to reach 8.78 per cent.
More children than ever before are now living with a working adult as the number of UK households without a regular income from work falls to 1.27 million.
Customers make contributions to the plan during their working lives and then receive regular income upon retirement.
The current profit rates are 10.8 percent on pensioners and behbud certificate, 76.6 percent on national saving scheme, 8.10 percent on defence saving certificate and 7.63 percent on regular income certificate.
Certain construction contractors may be eligible to use the cash or completed-contract method of accounting for regular income tax.
I was torn between handicap debutants Gift Of Hera and Regular Income, but came down on the side of the latter, mainly because Gift Of Hera could be a lot shorter than the forecast 16-1.
The first and only UITF of its kind in the local industry, the MUPF is designed as an investment that not only provides potentially better returns but also pays out regular income on a quarterly basis.