installment

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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 ?
Galaxy S9+ 64 GB can be purchased for EGP 17,300 in cash, or on a six-month installment plan for EGP 3,273 per month, or a nine-month instalment plan for EGP 2,312 per month.
Meanwhile, buyers who paid less than two years of installments are entitled to a grace period of not less than 60 days from the date the installment became due.
The installments were respectively paid to the CBI's accounts in Oman and the United Arab Emirates.
The regulation is also expected to limit installments for online sales as well.
Gulf Installments was established in 2012 by Shu Capital following the success of Shu's subsidiary Gulf Finance Corporation in the UAE, says a company press release.
His Highness Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of SHU Capital and Chairman of Gulf Finance said, "We are excited about the establishment of Gulf Installments in Saudi Arabia.
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.
Under provisions enacted since 1996, taxpayers may request administrative review of IRS decisions to terminate installment agreements; taxpayers may appeal rejections of proposed installment agreements; and the IRS must accept proposed installment agreements in certain circumstances.
To qualify for an installment agreement the maximum balance owed cannot exceed $10,000, and the total balance must be paid within 36 monthly installments.
These options would include the joint-and-survivor life annuity, installment payments over a single-and-joint life expectancy, and installment payments over a specified period of years.
The limitation requires the taxpayer to treat installments as having been received even though no payments have been made.