Can anyone help me out with the difference between tax holiday and tax exemption..??
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Tax
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Tax holiday is like elimination or reduction of a tax, like tax subsidies by the governments as incentives for business investment. Eg: Govt announces tax holiday for 10 years for every business unit in Himachal. It helps in to increasing the investment in that place.
But tax exemption may provide a particular class of assessee either complete relief from tax or tax at a reduced rate. Read sec 10.
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