Planning and Management

Dear Harsiddhi,

Tax Management is wide term & it includes Tax Planning, all compliances,etc

Tax Planning means Reducing ur Income Tax Liabilty by availing the benefits given by law..

Practices which reduces tax liability by exploiting loopholes in law(but not contravening the provisions)   is known as Tax Avoidance..

Practices which reduces tax liability by contravening the provisions in Law   is known as Tax Evasion..

Can u elaborate pls?