Can any one help me out ??
whats Difference Between Exemption, Abatement , & Rebate ??
Whats difference between exemption,abatement, & rebate ??
Akash (owner) (145 Points)
09 January 2012
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 09 January 2012
A tax rebate is when too many taxes have been paid and you get a refund, or money back to you. Much like a rebate when you purchase an item and the company sends you money back.
A tax abatement is a reduction in taxes or exemption from paying taxes for a piece of property for a specified length of time. Much like when something is on sale, you pay less up front.
CAclubindia
