Tax Planning, Tax Evasion, Tax Avoidance, Tax Mitigation

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....be shunned as unethical or anti-social. But those types of tax avoidance which violate the spirit and intention of the law and at times border on tax evasion are certainly disapproved. Tax Evasion and Tax Avoidance The Direct Tax Enquiry Committee (Wanchoo Committee) has tried to draw a distinction between the two items in the following words. Tax Avoidance A large variety of shades in the met....

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....ions or downright fraud. In simple terms, tax evasion refer to any attempt to avoid payment of taxes by using illegal means. The problem of tax evasion is, however, not peculiar to our country,. It exists the world over, as is evident from a study of the tax laws of the various countries and the administrative set-up· for effective enforcement of such· laws. Tax Mitigation Tax mi....