Question

Would you rather want to take a tax deduction or a tax credit? Why?

Answer 1

Tax credits tend to be more valuable than tax deduction because.....

Step-by-step explanation:

they provide a direct reduction in your tax liability.

For example, a Rs 1,000 tax credit will reduce your taxes owed by Rs1,000, while a Rs1,000 tax deduction will reduce your taxable income by Rs1,000, but the actual tax savings will depend on your tax bracket.