Deduction: Think of deductions as

Think of deductions as discount coupons on your taxable income. You earn money, much before that the government decides how much to tax, it says: “If you spent some money on good things such as insurance, retirement, or education, we’ll let you subtract that amount from your income.” Explore tax-saving strategies for salaried employees under Chapter VI-A, including deductions for investments, insurance, education, and more. Reduce your tax liability effectively. Tax Deduction - Easily understand income tax deductions and it's 19 types in India. Also, know Tax Exemption, TDS & Benefits of Tax Deductions. Visit site now. Deductive reasoning, or deduction, is making an inference based on widely accepted facts or premises. If a beverage is defined as "drinkable through a straw," one could use deduction to determine soup to be a beverage.