Quary
This query is : Resolved
03 March 2014
What is the diff. b/w Deduction & Exemption
03 March 2014
Exemption means that the INCOME is NOT taxable at all.
Deduction is NOT related to tax exemption. It provides an allowance for expenditure from the taxable income.
Deduction is NOT related to tax exemption. It provides an allowance for expenditure from the taxable income.
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