Deduction

byPaytm Editorial TeamLast Updated: December 12, 2025

Meaning & Definition

Deduction is an amount subtracted from taxable income to reduce the tax liability. It helps taxpayers save taxes legally under income tax laws.

Key Features

  • Reduces taxable income
  • Encourages savings or investments
  • Available under specific sections
  • Helps in tax planning

Author

Paytm Editorial Team

The Paytm Editorial Team is a collaborative group of writers, editors, and industry experts. We're dedicated to bringing you the latest insights, news, and guides on digital payments, financial services, and the technology that's shaping India's economy. We offer easy-to-follow guides and insights to help you explore Paytm’s products, features, and services. Our goal is to provide clear, reliable, and helpful information to empower you on your financial journey.

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