Concealment of income or false claims to reduce tax liability are cases of

1 ________ Tax Evasion Tax Planning Tax Avoidance Tax Management

2 Use tax loopholes, to reduce tax is known as _____________ Tax Evasion Tax Planning Tax Avoidance Tax Management

3 IT returns must be furnished before due date as part of __________ Tax Management Tax Planning Tax Avoidance Tax Evasion

4 Compliance of legal requirements of tax, is the essence of _______ Tax Planning Tax Evasion Tax Avoidance Tax Management

5 Tax avoidance is _________ Legal Illegal Immoral Lawful

6 Inccome Tax Act came into force from ____________ 1961 1962 1947 1950

7 Compliance of legal formalities of tax, to avail tax incentives is _______ Tax Evasion Tax Planning Tax Avoidance Tax Management

8 Availing Tax holiday in backward area is __________________ Tax Avoidance Tax Planning Tax Evasion Tax Management

9 Profits earned from illegal business are _________ Taxable Tax Free Ignored by IT Taxed as other income

10 IT return filed after due date is called __________ Revised Return Belated Return Best Return Defective Return

11 The objective of Tax planning is to minimize ___________ tax liability financial liability Tax Return Wealth Tax

Tax deduction in
12 Tax Management deals with ___________ Filing ITR in time Getting audited in time time All of the above

13 Tax planning is __________ legal & ethical legal but not ethical illegal but ethical illegal & not ethical

14 Tax planning is ________ than tax avoidance wider narrower illegal immoral

15 _________ is a tax payer Businessman Trust Assessee Govt Employee

16 Tax management is _______ step towards tax planning 2nd 3rd 1st 4th

17 Need for tax planning is __________ reduction in tax reduction in cost minimize litigation all of the above

18 Law is flouted in case of _____________ Tax Avoidance Tax Planning Tax Evasion Tax Management