basis vs component

basis and component both are nouns.

Word	Noun	Adjective	Verb	Adverb
basis	Yes	No	No	No
component	Yes	No	No	No

As nouns, component is a hypernym of basis; that is, component is a word with a broader meaning than basis:

Other hypernyms of basis include component part, constituent, part, portion.

basis (noun)	component (noun)
the fundamental assumptions from which something is begun or developed or calculated or explained	an artifact that is one of the individual parts of which a composite entity is made up; especially a part that can be separated from or attached to a system
a relation that provides the foundation for something	an abstract part of something
the most important or necessary part of something	something determined in relation to something that includes it