Easy Office
LCI Learning

exemption & deduction

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 March 2010 what is the difference between exemption and deduction?

05 March 2010 exemption means income is not taxable at all whereas deduction is part of income which is not taxable some extent or expenditure which reduce the taxable income...


Example : - Agriculture Income is exempt income whereas expenditure of PF allowed as deduction from Taxable Salary.

05 March 2010 Exemption - The income not taxable at all

Deduction - Amount reduced from the taxable income




06 March 2010 Completely agree with experts.

Regards

06 March 2010 Agreed.....



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries