Poonawalla fincorps
Poonawalla fincorps

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03 March 2014 What is the diff. b/w Deduction & Exemption
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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.

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