The difference between tax planning and avoidance!

Experts give some advice and suggestions regarding the differences between tax evasion and planning to reduce the tax burden. Tax Evasion in English means avoidance..

Tax Planning in English means planning. Tax Avoidance can be done by planning. Evasion is criminal. Planning is legal. Going into details..

Tax planning objectives

• Planning in accordance with the provisions of law.
• All affairs and responsibilities are as per law.
• Minimizing tax burden to the extent possible under law.
• It is like a right.. It is scientifically acceptable.

Tax Evasion: Motives

• Violation of provisions of law.
• The transactions are against the law.
• Implementation of deliberate means of tax evasion.
• This is a crime. Illegal.

Tax evasion involves the willful avoidance of paying taxes. That is illegal. unethical Telling lies, making mistakes, hiding income through many tricks, stealing, etc. It comes under non-payment of taxes. Many ways are found and enforced to evade taxes. Fraudulent dealings, fraudulent information, calculations… all these are objectionable.

A crime in law. The benefit seems like a mirage. But to no avail. Many examples. Many ways. Crossroads Many people pity us. Shining. They are crumbling. They light up. But all this is temporary. Legal punishments against such people are severe. Interest is paid. Penalties will be imposed. It can be milk in glasses. Many laws hold them.

Tax planning

There is a method in tax planning. It is subject to law. It is ethical. There is no lie. There is no mistake. There is no trick. There will be no looting of income. There is no hiding. Being careful not to pay taxes.. Trying to reduce the burden of taxes is not cheating. Neither calculations nor information are fraudulent.

There is no transgression. There will be a purpose. There are many legitimate ways to reduce the tax burden. In the year 2024, 10 crore 41 lakh people filed returns. A lakh people say their income is Rs. These are our role models. By disclosing the details of the taxes payable to us, we get all the benefits as per law. There will be no punishments. Let us follow this path.