Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
blocked income
Money earned by a foreign taxpayer but not subject to U.S. taxation because the foreign country prohibits changing the income into dollars.
blocked income.
See INCOME.
locked in
adj. 1. (Of a person) unable to sell appreciated securities and realize the gain because of liability for capital gains taxes <my accountant advised me not to sell the stock because I am locked in>. 2. (Of a price, rate, etc.) staying the same for a given period <the 7% mortgage rate is locked in for 30 days>.