wat and diff tax planning,avoidance,evasion,mgt.

Dear Vasanth,

Pls see this -

/forum/planning-and-management-63116.asp

Dear,

Tax Planning

A way to reduce tax liability by taking full advantages provided by the act

Through various exemptions, deductions, rebates & relief.

Tax avoidance

An exercise by which the assessee legally takes advantage of the loopholes in the act.

This is short term benefit.

Tax evasion

The illegal way to reduce tax liability by deliberately suppressing income or sale or by increasing expenses, ect., which results in reduction of total income of the assessee.

Tax management

A procedure to comply with the provisions of the law.

Regards

K.Ilayaraja.

For Differentiation wait………