deduction in pay
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Pay-as-you-go tax — Pay as you go (PAYG) is a system for businesses and individuals to pay installments of their expected tax liability on their income from employment, business, or investment for the current income year. When used as an adjective, it is often… … Wikipedia
deduction of tax at source — the process whereby the payer of, e.g. interest, deducts income tax at the basic rate from the payment and accounts for it to the Inland Revenue. It can be compared with the system of Pay As You Earn (PAY E), whereby employers are required to… … Law dictionary
Pay-as-you-earn tax — For other uses see Paye (disambiguation) Pay as you earn or PAYE refers to a system of withholding of income tax from payments to employees. Amounts withheld are treated as advance payments of income tax due. They are refundable to the extent… … Wikipedia
deduction — An expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations. Bloomberg Financial Dictionary * * * deduction de‧duc‧tion [dɪˈdʌkʆn] noun [countable, uncountable] the process of taking away an amount from … Financial and business terms
pay — 1. v. & n. v.tr. (past and past part. paid) 1 (also absol.) give (a person etc.) what is due for services done, goods received, debts incurred, etc. (paid him in full; I assure you I have paid). 2 a give (a usu. specified amount) for work done, a … Useful english dictionary
deduction — UK [dɪˈdʌkʃ(ə)n] / US noun Word forms deduction : singular deduction plural deductions 1) a) [countable] an amount or number taken from a total Italian workers pay far more in tax and other deductions. b) [uncountable] the process of taking an… … English dictionary
deduction — noun 1) the deduction of tax Syn: subtraction, removal, debit, abstraction 2) gross pay, before deductions Syn: subtraction 3) she was right in her deduction Syn: conclusion … Thesaurus of popular words
deduction — noun 1) the deduction of tax Syn: subtraction, removal, debit 2) gross pay, before deductions Syn: stoppage, tax, expenses, rebate, discount, concession 3) … Synonyms and antonyms dictionary
Pay As You Earn — Known as the PAYE scheme . Dresdner Kleinwort Wasserstein financial glossary A system whereby employees suffer income tax deduction at source from their salaries. Instead of paying the gross salary to the employee, the employer is obliged under… … Financial and business terms
Pay-As-You-Earn — Known as the PAYE scheme . Dresdner Kleinwort Wasserstein financial glossary A system whereby employees suffer income tax deduction at source from their salaries. Instead of paying the gross salary to the employee, the employer is obliged under… … Financial and business terms
take-home pay — noun what is left of your pay after deductions for taxes and dues and insurance etc • Hypernyms: ↑wage, ↑pay, ↑earnings, ↑remuneration, ↑salary * * * noun also take home ˈ ̷ ̷ˌ ̷ ̷ … Useful english dictionary
