Tax Credit

Fiscal Year vs Financial Year

Fiscal Year vs Financial Year
The terms Fiscal Year and Financial Year are synonymous, i.e. meaning the same thing. They are a period that governments use for accounting and budget purposes. However, they are also the duration on which tax...

PAN Card vs AADHAR Card

PAN Card vs AADHAR Card
PAN stands for Permanent Account Number. It is a number that is issued to any person who pays tax. Aadhar is an UID, i.e. a unique identification number. Its main purpose is to create a database of each...

PAN vs TAN vs TIN

PAN vs TAN vs TIN
A PAN number is a number for anyone who pays income taxes or has financial transactions. TAN is required for any organization that deducts or collects tax at source. A TIN number is required by any dealer or...

Tax Invoice vs Retail Invoice

Tax Invoice vs Retail Invoice
The main difference between the two is that a tax invoice is generated when a company sells a product to distributor or a person who plans on reselling the product. Whereas a retail invoice, is generated when...

Tax Credit vs Tax Deduction

Tax Credit vs Tax Deduction
The tax credit is an amount that is deducted from the amount of tax that is to be paid by a person, whereas the tax deduction is an amount that is deducted from the total income of the person; as the total...

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