Apportionment

Tax Glossary Definition

Apportionment

Apportionment – The systematic division and allocation of a financial liability, expense, loss, or benefit among several parties in proportion to their respective shares or obligations. This principle is widely applied in areas such as insurance, taxation, and real estate to ensure equitable distribution of costs or benefits.

Example: If two insurers jointly cover a property valued at ₹10 lakh, each assumes 50% of a ₹2 lakh loss — meaning ₹1 lakh is borne by each insurer.

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