Deduct example sentences

According to Income Tax Act 1961, a company must deduct income tax at a prescribed rate from the interest payable on debentures if it exceeds the prescribed limit.The provision for doubtful debts is usually calculated as a certain percentage of the total amount due from sundry debtors after deducting/writing-off all known bad debts.It is called Tax Deducted at Source (TDS) and is to be deposited with the tax authorities.Similarly, the expenses incurred on such specific purposes are also deducted from the special fund.The cheques deposited but not yet collected are deducted.If we deduct the Personal Tax Payments (income tax, for example) and Non-tax Payments (such as fines) from PI, we obtain what is known as the Personal Disposable Income.According to Income Tax Act 1961, a company must deduct income tax at a prescribed rate from the interest payable on debentures if it exceeds the prescribed limit.For this purpose, the cost of unsold goods should be deducted from the cost of the goods produced or purchased.If we deduct depreciation from GNP the measure of aggregate income that we obtain is called Net National Product (NNP).Offering deduction of agreed percentage of list price at the time selling goods is one way of giving discount.If we deduct the value of depreciation from gross value added we obtain Net alue Added.Depreciation is a deductible cost for tax purposes.Provision is shown either by way of deduction from the item on the asset side for which it is created, or on the liabilities side along with current liabilities.If you receive your income weekly and pay your bills on the first day of every week, you need not hold any cash balance throughout the rest of the week; you may as well ask your employer to deduct your expenses directly from your weekly salary and deposit the balance in your bank account.To the difference between the closing and opening capital, any sum withdrawn from business are added back and any additional capital introduced during the year are deducted to find out profit and loss made for the period.