Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Bank holding company
a company that owns or controls one or more banks. 0 ownership or control of 25 percent is usu. Enough for this purpose. - abbr. Bhc.
Employee's Withholding Allowance Certificate
See W-4 FORM.
Holding
n. 1. A court's determination of a matter of law pivotal to its decision; a principle drawn from such a decision. Cf. OBITER DICTUM. 2. A ruling on evidence or other questions presented at trial. 3. (usu. pl.) Legally owned property, esp. land or securities. 4. Hist. In feudal law, tenure.
Public Utility Holding Company Act
A federal law enacted in 1935 to protect investors and consumers from the economic disadvantages produced by the small number of holding companies that owned most of the nation's utilities. ( The Act also sought to protect the public from deceptive security advertising. 15 USCA §§ 79 et seq. - Abbr. PUHCA.
Withholding
, n. 1. The practice of deducting a certain amount from a person's salary, wages, dividends, winnings, or other income, usu. for tax purposes; esp., an employer's practice of taking out a portion of an employee's gross earnings and paying that portion to the government for income-tax and social-security purposes. 2. The money so deducted. - withhold, ub.
diversified holding company
A holding company that controls several unrelated companies or businesses.
feu holding
Hist. A tenancy held by rendering produce or money instead of military service.
holding cell.
See JAIL.
holding charge.
A criminal charge of some minor offense filed to keep the accused in custody while prosecutors take time to build a bigger case and prepare more serious charges.
holding company
A company formed to control other companies, usu. confining its role to owning stock and supervising management.
holding company.
See COMPANY.
holding over.
A tenant's action in continuing to occupy the leased premises after the lease term has expired. ( Holding over creates a tenancy at sufferance, with the tenant being referred to as a holdover. See tenancy at sufferance under TENANCY.
holding period.
Tax. The time during which a capital asset must be held to determine whether gain or loss from its sale or exchange is longterm or short-term. holding zone. See ZONE.
holding zone
Temporary, low-density zoning used until a community determines how the area should be rezoned.
holding-company tax
A federal tax imposed on undistributed personal-holding-company income after allowing deductions for such things as dividends paid. IRC (26 USCA) § 545. - Also termed personal-holding-company tax.
holding-company tax.
See TAX.
income-tax withholding
See WITHHOLDING.
income-withholding order
A court order providing for the withholding of a person's income, usu. to enforce a child-support order.
interstate income-withholding order
A court order entered to enforce a support order of a court of another state by withholding income of the defaulting person.
multiple job-holding
See MOONLIGHTING.
personal holding company
See COMPANY.
personal holding company.
A holding company that is subject to special taxes and that usu. has a limited number of shareholders, with most of its revenue originating from passive income such as dividends, interest, rent, and royalties.
personal-holding-company tax
See holdingcompany tax under TAX.
withholding of evidence
The act or an instance of obstructing justice by stifling or suppressing evidence knowing that it is being sought in an official investigation or a judicial proceeding. See OBSTRUCTION OF JUSTICE.
withholding tax
A portion of income tax that is deducted from salary, wages, dividends, or other income before the earner receives payment. ( The most common example is the income tax and social-security tax withheld by an employer from an employee's pay.
withholding tax withholding tax.
See TAX.