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...

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...

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...

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...

Exemption refers to the ability of a person to not pay taxes on a certain amount incurred. When deductions occur, a portion of the taxable income reduces. The tax payer pays all the taxes and then files for...