Can any1 please clarify that "a person depositing rupees 70000 in PPF to avail tax deduction u/s 80C" is tax evasion or tax avoidance. (the option is only between tax avoidance and evasion)
4 Replies
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 22 June 2010
dear friend u can name it tax avoidance but it's better to call it tax planning.
daya shankar singh
(CA ,CS)
(629 Points)
Replied 22 June 2010
It will be better to catogrise under Tax plannig but if u have select between the above two then u select under tax avoidance
Shan Antony
(Industrial Trainee)
(243 Points)
Replied 22 June 2010
Tax planning is d most appropriate term.
Ravinder Singh
(Manager - Finance & Accounts)
(31 Points)
Replied 23 June 2010
if you are avoiding tax by illegal manners then it is called tax evasion and if you make evasion legally and within tax laws then it is called avoidence.
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