In 2016-17, the FBR deducted
Rs76.870 million from Excise Department, Rs11.119 from Health Department, 290.499 million from Home Department, Rs415.891 million from Finance Department, Rs12.834 million from Board of Revenue and Rs9.821 million from Mines and Mineral Development Department.
However, there is an inherent tax benefit since fees deducted
from an IRA are not subject to income tax.
At this, the court wondered why the withholding tax was being deducted
from 140 million cellular subscribers.
It was pointed out that the FBR during the year 2014-15 at source deducted
Rs816.267 million from Excise Department, Rs11.878 million from Board of Revenue, Rs6.662 million from Mines and Mineral department and Rs1.704 million Transport and Mass Transit Department.
All of the costs properly attributable to the development of software by the taxpayer are consistently treated as current expenses and deducted
in full in accordance with the rules similar to those applicable under section 174(a) of the Code; or
However, because RMC and its 100% shareholder were related parties at the end of the tax years prior to 1994, section 267(a)(2) did control when the interest for those years should be deducted
National Starch deducted
these fees, but upon audit the IRS concluded that they should be capitalized.
Accordingly, his legal fees ($500,000) may be deducted
only under Sec.
TEI urged the IRS and Treasury to promulgate general guidance on the important issue of whether certain expenditures may be currently deducted
by taxpayers or, rather, must be capitalized.
62(a)(19), the amount that may be deducted
above-the-line cannot exceed the amount includible in the taxpayer's gross income for the tax year on account of a judgment or settlement (whether by suit or agreement and whether as lump-sum or periodic payments) resulting from such claim.
On their individual 1993 to 1995 tax returns, Hawley deducted
the payments and Gilbert did not include them in her gross income.
Memo 1992-504, the California-based taxpayer deducted
its March 31st CFT accrual on each of its 1982, 1983, and 1984 tax returns.