Diference between Deduction and Exemption ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2010
Sir What is the Diffrence between Deduction and Exeption ? Pls guide. Thanks.
CMA Ramesh Krishnan
(Expert)
27 December 2010
Exemption is the Income which is not taxable at all, like Agricultural income & Share from HUF
Deduction is the amount which is allowable by the act from the taxable income, like deduction from 80C/D/DD/DDB etc
Deduction is the amount which is allowable by the act from the taxable income, like deduction from 80C/D/DD/DDB etc
Ajay Mishra
(Expert)
28 December 2010
Go to the following link:
https://www.caclubindia.com/forum/difference-between-exemption-fromtax-and-deduction-from-tax-19244.asp
https://www.caclubindia.com/forum/difference-between-exemption-fromtax-and-deduction-from-tax-19244.asp
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