NTA-NET (UGC-NET) Commerce (08) Income-Tax Law and Tax Planning-Tax Planning Study Material (Page 2 of 3)

Choose Programs:

📹 Video Course 2024 (205 Lectures [90 hrs : 58 mins]): Offline Support

Rs. 560.00 -OR-

1 Month Validity (Multiple Devices)

Preview All LecturesDetails

⏳ 🎯 Online Tests (8 Tests [100 questions each]): NTA Pattern, Analytics & Explanations

Rs. 1600.00 -OR-

3 Year Validity (Multiple Devices)

Sample TestsDetailsSee Demo

🎓 Study Material (1061 Notes): 2024-2025 Syllabus

Rs. 1000.00 -OR-

3 Year Validity (Multiple Devices)

Topic-wise Notes & SampleDetails

🎯 3802 MCQs (& PYQs) with Full Explanations (2024-2025 Exam)

Rs. 700.00 -OR-

3 Year Validity (Multiple Devices)

CoverageDetailsSample Explanation

Help me Choose & Register (Watch Video) Already Subscribed?

Income-Tax Law and Tax Planning: Tax Evasion, Penalties for Tax Evasion

Edit

Tax Evasion

  • Avoiding tax illegally is termed as tax evasion. Tax evasion is the illegal evasion of taxes by individuals, corporates, and trusts. Tax evasion often entails taxpayers deliberately misrepresenting the true state of their affairs to the tax authorities to reduce their tax liability and includes dishonest tax reporting, such as declaring less income, profits or gains than the amounts actually ear…

… (556 more words) …

Subscribe (by clicking here) to view full notes and track progress.

Income-Tax Law and Tax Planning: Tax Avoidance, Tax Avoidance vs. Tax Evasion

Edit

Tax Avoidance

  • Tax Avoidance is taking undue advantage of lacuna or loop holes or drafting mistakes in the income tax law to reduce tax hence leading to avoidance of tax which is legally to be payable. Generally, it is done by twisting or interpreting the provisions of law and avoiding payment of tax. It is basically to take into account the loopholes of the tax laws and reducing the tax liability. Though it has a legal sanction, it means following the provisions of la…

… (559 more words) …

Subscribe (by clicking here) to view full notes and track progress.