The two religions are similar in that they both believe in reincarnation. Hindus believe that the soul is immortal and will eventually be reborn into another body after death. The soul is reborn over and over again until it is freed from the cycle of rebirth. Buddhists also believe that when a person dies, their soul is reincarnated into another body.
Both religions also believe in karma, which means that good deeds will bring good results and bad deeds will bring bad results. Karma does not mean that people are punished for their sins; rather, it means that everyone gets what he or she deserves based on his or her actions.
A third belief shared by both religions is moksha (also known as nirvana). This means liberation from suffering, ignorance and illusion and release from the cycle of birth and death.
Both religions teach that wisdom is the key to liberation. Wisdom is defined differently by each religion: For example, Buddhism teaches that wisdom comes from understanding impermanence (anicca), suffering (dukkha), selflessness (anatta) and emptiness (sunyata). Hinduism teaches that wisdom comes from knowing Brahman as Reality – as the ultimate cause of everything in the universe – and thus realizing that everything else is an illusion or maya.
Both religions place great emphasis on meditation and contemplation as a means to purify the mind and attain enlightenment.