What are difference between exemption and deduction
This query is : Resolved
01 August 2023
what are difference between exemption and deduction under the income tax for salaried person.
01 August 2023
Tax deductions are specific items that can be deducted from your income. These items are generally expenses or payments made towards certain investments.
Tax exemptions are specific items that are excluded from taxation. These items are generally allowances or other amounts earned as income.
Tax exemptions are specific items that are excluded from taxation. These items are generally allowances or other amounts earned as income.
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