installment


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Related to installment: installment method, Installment Sales

Installment

A payment made as part of a series of payments on the same good, service, or obligation. For example, if one buys expensive consumer goods (such as furniture), one may agree with the seller to pay in installments until the furniture is paid in full. Likewise, one also makes installment payments on loans. Installments may or may not require interest to be paid.

installment

A partial payment on a financial obligation. For example, an annual or monthly payment to the seller of an asset, such as a farm, on a long-term contract is an installment. Installments are composed partly of principal and partly of interest. If all the installments are of equal size, each subsequent payment incorporates an increasing amount of principal and a decreasing amount of interest.
References in periodicals archive ?
Visa is partnering with clients around the world to pilot a variety of installment use cases.
Exemptions and successful appeals will instead appear on second installment bills, along with the effect of changes in the tax levies of local governments.
The shipper account administrations encourages the business to pick up the advantages of tolerating on the web installments straightforwardly in their ledger.
The grace period shall be fixed at the rate of one-month grace period for every year of installment payments made.
Tribal Installment Loans provide installment loans that range from USd100 to USD1,000.
The refusal by the banks for disbursement of second installment of the loan has fomented despair among the youths and they have appealed to Prime Minister Nawaz Sharif, finance minister Ishaq Dar and governor state bank to ensure release of second installment of the loan as soon as possible to save their business from disastrous failure.
The deferred tax liability is calculated on the installment note obligation in excess of $5 million outstanding at the end of the tax year.
According to the regulation, non-mortgage consumer loans are limited to a period of 36 months and car loans cannot exceed 48 installments. The regulation is also expected to limit installments for online sales as well.
Gulf Installments expects to open a branch in Dammam during the second quarter of 2014.
"SHU Capital has announced the establishment of Gulf Installments Company," said a statement from the company.
A taxpayer does not need to elect installment sale treatment.
For IRS purposes, whether or not seller elects the Installment Sale method, the parties must agree on the allocation of purchase price among the various types of assets, using fair market value (FMV] as the guide.