Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
child- and dependent-care tax credit
A tax credit available to a person who is employed full-time and who maintains a household for a dependent child or a disabled spouse or dependent.
foreign tax credit
A tax credit against U.S. income taxes for a taxpayer who earns income overseas and has paid foreign taxes on that income. See FOREIGN-EARNED-INCOME EXCLUSION.
investment tax credit
See TAX CREDIT.
tax credit
An amount subtracted directly from one's total tax liability, dollar for dollar, as opposed to a deduction from gross income. -Often shortened to credit. Cf. DEDUCTION (2).
unified estate-and-gift tax credit
See unified credit under TAX CREDIT.