Conceptual Difference Between 'Tax Exemption' aur 'Tax Deduction' in Taxation Law

Maine socha tha exemption aur deduction mein ek hi cheez hai, par tab yeh confusion ho gayi jab paper mein pucha gaya ki kya difference hai. Kisi bhi student ke lije isse samajna aasan hai, bas ismein dhyan dena hai ki exemption wahan se jaata hai jahan se tax paid nahi hua, aur deduction wahan se jaata hai jahan se tax reduce hua. Example ke lije, let's say a company ki annual income 10 lakho hai, aur uske paas 2 lakh tak investment hai. In 2 lakh ka aavishkar deduction mein aayega, par agar company ko 3 lakh tak aavishkar milta hai, toh voh exemption me se jaayega.