Exemption vs deduction
This query is : Resolved
12 September 2015
Dear Members,
Please tell me the difference between Exemption and Deduction.
Guest
Guest
(Expert)
12 September 2015
Exemption means income which is not taxable..Deduction means income is taxable but certain deductions are their.When something is exempt you need not to take in to the income while in case of deduction firstly u need to add in the income an then give certain deduction..
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