What Does Notionally Mean?

What is the meaning of notional basis?

November 2008) The notional amount (or notional principal amount or notional value) on a financial instrument is the nominal or face amount that is used to calculate payments made on that instrument.

This amount generally does not change and is thus referred to as notional..

What is the meaning of pay fixation?

Pay Fixation method “Pay in the Pay Band will be fixed by adding the Basic Pay applicable on the later date, the Dearness Pay applicable on that date and the pre-revised Dearness allowance based on rates applicable as on 01.01. 2006.

What does notional capital mean?

Notional capital and income. A claimant has ‘notional’ capital or income where s/he does not actually possess capital or income but is treated as if s/he does. This can occur when the claimant:[14] deliberately deprives her/himself of capital or income with the intention of qualifying for housing benefit.

Is notional income taxable?

This implies that tax is imposed on only those heads of income which are specifically covered under the Income Tax Act, 1961 (‘ITA’). Consequently, notional income is not taxable unless specifically provided for in the ITA.

What is the meaning of notional effect?

1 : theoretical, speculative. 2 : existing in the mind only : imaginary.

What is a notional income?

Notional income is income that you’re treated as having which you may not in fact have. Include. Notes. Trust income that under Income Tax rules is treated as the income of another person. For example, investment income of a child where you’ve provided trust funds of more than £100.

What’s the meaning of fearless?

free from fear : brave: free from fear : brave.

What is a nominal value?

In economics, nominal values refer to the unadjusted rate or current price, without taking inflation or other factors into account as opposed to real values, where adjustments are made for general price level changes over time.

What is a nominal amount of money?

a nominal amount of money is a very small amount which is much less than something is really worth. Transport can be provided for a nominal sum. There will be a nominal shipping fee that must be paid online with a credit card.

What is notional fixation of pay?

notional consequential benefits, meaning thereby the petitioners will be given the benefit of seniority and fixation of their pay from … directed to pay arrears of salary from the date of reappointment, consequent upon fixation of their salary notionally while counting.

What do nationally mean?

National means relating to the whole of a country or nation rather than to part of it or to other nations. … major national and international issues. Synonyms: nationwide, state, public, federal More Synonyms of national. nationally adverb.

What does plucking mean?

transitive verb. 1 : to pull or pick off or out. 2a : to remove something (such as hairs) from by or as if by plucking pluck one’s eyebrows. b : rob, fleece. 3 : to move, remove, or separate forcibly or abruptly plucked the child from the middle of the street.

What does valorous mean?

having valor; courageous; valiant; brave. characterized by valor: valorous deeds.

What does notional mean in tax?

A notional tax credit is applied to the dividend to take account of the fact that corporation tax has already been paid. … The tax credit is a notional amount only. Nothing is due to HMRC and no further tax needs to be paid on the dividend unless the recipient is a higher rate tax payer.

What is a notional example?

Notional definitions The definition of notional is something that exists only in theory or only in the imagination. An example of something that is notional is a scientific theory or belief that has not yet been tested or proven.

What does Pluky mean?

English Language Learners Definition of plucky informal : having or showing a lot of courage or determination.

What is the difference between nominal and notional?

For bonds and preferred stock the nominal (value) represents the amount that must be repaid at maturity. … The notional (value) is the base for calculations of payments associated with a contract (typically a derivative contract). You can also say that it’s the amount of money you control (but don’t have typically).

What does nominal mean?

Nominal is a financial term that has several different contexts. It can mean small or far below the real value or cost such as a nominal fee. Nominal also refers to an unadjusted rate in value such as interest rates or GDP.