due to tax relief, pooja brought a large number of her cottage product to the market for sale. identify and explain the concept
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Tax Deduction / Collection Account Number ... The provisions related to Rebate and Relief ... Capital Gain on Purchase by Company of its Own ...
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The concept here : The principle of demand and supply of commodities.
- Tax relief refers to reduction or waiving of certain part or whole taxes being placed on a certain commodity. In this case, cottage product.
- Due to this tax relief consumers will be more interested to buy produce as they are paying only/ mostly for the produce itself.
- This is also a boon for people like Pooja as they don't have to give up part of the revenue as taxes and thus aid them in economic recovery.
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