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?
Answers were Sorted based on User's Feedback
Answer / 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 |
Answer / himanshu
Tax avoidance and evasion is the practice of underminig or
not showing your taxable income properly or through illegal
means.It is an illegal act which amounts to payment of
penalty and imprisonment.
Tax planning on the other hand is the proper investment of
various sources of income to enjoy tax exemption U/s
10,deductions U/s 80 and rebates U/s 88.It is an legal
practice.
Is This Answer Correct ? | 36 Yes | 17 No |
Define Trigger?
What does market survey mean?
What is 'public account fund'?
I'm an MBA student. I need guidance to prepare for AMAZON COMPANY. can u pls post papers to ammuprathyu@ymail.com
0 Answers Amazon, Bank Of America,
Why trading?
Do you know RBI current policy and reserve rates?
What do you mean by assessment year?
What is Black Market?
0 Answers State Bank Of India SBI,
What Are Npas?
After doing b.sc / b.tech / mba / ma why do you want to choose banking? Why not something related with you field of education?
What is the educational qualification required for marketing officer and asst. Manager posts?
hi this is renuka i also face an interview in syndicate bank po of 23 aug 2009 plz suggest me the expected question what may they ask to me. my email id is renuka.ahlawat@gmail.com