It is a deduction or allowance given by a creditor to a debtor if the amount due is paid by the debtor before the due dale, or it is a reduction in price (usually 2% or less) offered by manufacturers or wholesalers (creditors) to encourage customers, (debtors) to pay their debts within a specified discounted period. For example, X sold .goods to Y (a customer) for Rs. IQOO on credit basis. It means, X is creditor and Y is debtor. X offers an allowance of 2% to Y, if he will pay his debts within 15 days. It means, if Y pays his debts within 15 days, then he will pay only Rs. 980 (1000 - 20) to X. Such a discount is known as' Tash Discount".
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