ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Intellectuals Who Deceive-A Comment

family allowances and Initial exemption as straight deduction from assessed income, technically known as continuing exemption. Standard deductions and personal deductions in USA operate in this manner; in India the same practice is followed in regard to life insurance premia, provident fund contributions, donations to charitable trusts, etc, (partial deduction is allowed in whose case). Still another way is to grant tax relief in the form of tax rebate. This was the practice followed in 1964-65 to grant tax relief to life insurance pre- tnia, etc.

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