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Forfeiture refers to a loss of any property, money, or assets without consideration or compensation in return. A forfeiture generally occurs due to default in complying with repayment obligations under a contract. It can also be used as a penalty for an illegal way of conducting business. Forfeiture - ClearTax cleartax.in https://cleartax.in › glossary › forfeiture cleartax.in https://cleartax.in › glossary › forfeiture
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