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Transcript

Salaried They Pay Tax on Income before expenses Income 1000000 Less Tax 200000 Balance 800000 Less Expenses 600000 Savings 200000 Business They pay tax on Profit After expenses Income 1000000 Less Expenses 600000 Profit 400000 Less Tax 80000 Savings 320000 They Pay more Tax They Pay less Tax To give them some tax benefit, govt gives them Standard Deduction of 50000 No Standard Deduction for Business

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.