Tax avoidance involves deliberately ignoring a specific provision in the Income Tax Act.

Name: Tax avoidance involves deliberately ignoring a specific provision in the Income Tax Act.
Brand: Quizplus
Rating: 4.9 (29 reviews)

Question

Quizplus · Accepted Answer

Tax avoidance involves exploiting legal loopholes or using legal means to reduce tax liability, while tax evasion involves deliberate concealment or misrepresentation of income to avoid paying taxes. Tax avoidance does not involve ignoring a specific provision in the Income Tax Act.

Tax Avoidance Involves Deliberately Ignoring a Specific Provision in the Income