Académique Documents
Professionnel Documents
Culture Documents
The systematic analysis of differing tax options aimed at the minimization of tax liability in current and future tax periods.
3) Minimization of litigation-A tax-payer wants to pay the taxes in minimum and the tax authorities want to collect the maximum.Sometimes,overzealous tax authorities impose heavy taxation.This results in unscrupulous litigation between the tax payer and the tax collectors and ultimately the tax-payer have to take shelter of the court.
It is absolutely illegal.
An assesse who is guilty of tax evasion may be punished by the way of penalty or prosecution.
Tax evasion is violation of tax laws intentionally, knowingly and with the clear intention of defrauding the exchequer.
It helps in sound economic development of the country. It is strictly in accordance with law and observes the real intention of law. It requires full and deep knowledge of law and requires the use of law with intelligency. It is beneficial to the society and nation.
It requires full and deep knowledge of law and requires courage to misinterpret it abd use its loopholes. It is derogatory and harmful to the society and nation.