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1.Define Tax Avoidance?
2.Define Tax Evation?
3.Define Tax Planning?
4.Define Tax Management?
5.what are the effort to checj Tax evation?
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Answer Posted / himanshu
Tax avoidance is the practice of taking advantage from the
loopholes in the income tax law and it is not liable to
penalty and imprisonment.
Tax evasion is the practice of evading tax by flouting the
income tax laws and regulaions.It is illegal and tax evader
is liable to penalty and imprisonment.
Tax planning is the proper planning for investing various
sources of income to take tax advantange.It is a legal
practice.
Tax management on the other hand requires tax planning in
an efficient way to take advantage of exemptions,deductions
and rebates etc.
| Is This Answer Correct ? | 42 Yes | 11 No |
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