Tax

PTRC vs PTEC Registration for Professional Tax in India

PTRC vs PTEC Registration for Professional Tax in India
PTRC stands for Professional Tax Registration Certificate, and PTEC stands for Professional Tax Enrollment Certificate. A business usually requires both to conduct business. The process to register for the...

Tax Audit vs Statutory Audit

Tax Audit vs Statutory Audit
A tax audit is conducted to ensure that the financial statements of a person or an organization are in order. This may be done on the behalf of the person or company, or it may be a requirement. A statutory...

Income Tax Deduction vs Rebate vs Relief

Income Tax Deduction vs Rebate vs Relief
Tax Relief is any program or incentive that helps reduce the tax in some way or another. This tax relief can be in the form of a tax deduction or a tax credit. A tax deduction is basically a deduction of tax....

Tax Exemption vs Tax Deduction vs Tax Rebate

Tax Exemption vs Tax Deduction vs Tax Rebate
A tax exemption exempts certain things, so that no tax must be paid on it. Tax deduction is an amount that is deducted from the total income of the person. Tax rebate, also known as tax refund, is a refund of...

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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