Taxes

Service Tax vs Value Added Tax (VAT)

Service Tax vs Value Added Tax (VAT)
Service Tax is a tax that is levied by the government on any services that are rendered. Value Added Tax (VAT) on the other hand is a tax that is levied by the government for goods that are purchased. However...

Service Tax vs Service Charge

Service Tax vs Service Charge
A service tax is a tax that is levied by the government for whom certain services are provided. A service charge is an unofficial charge levied by restaurants for services provided.

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....

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