Abatement in the context of taxation

I want details regarding abatement under Taxation Law

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Team Legistify

  • Sector-1, Noida

In the context of taxation, an abatement is a decrease in the amount of tax imposed. Abatement of taxes relieves property of its share of the burdens of taxation after the assessment has been made and the levy of the tax has been accomplished.

Answered on 28 Sep 2018


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Team Legistify

  • Sector-1, Noida

Abatement is a reduction in the level of taxation faced by an individual or company. Examples of an abatement include a tax decrease, a reduction in penalties or a rebate. If an individual or business overpays its taxes or receives a tax bill that is too high, it can request an abatement from the tax authorities.

Answered on 28 Sep 2018


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