Specify with reason, whether the following acts can be considered as tax planning, tax avoidance, tax management, or tax evasion : An individual tax payer making tax saver deposit of 5 years of ₹ 1,20,000 in a nationaliz
CS Professional · Goods and Services Tax (GST) and Corporate Tax Planning · PYQS · June 2026
Specify with reason, whether the following acts can be considered as tax planning, tax avoidance, tax management, or tax evasion : An individual tax payer making tax saver deposit of 5 years of ₹ 1,20,000 in a nationalized bank in the name of his minor son.
Answer & Explanation:
Tax Planning: Making a tax saver deposit of ₹ 1,20,000 in a nationalized bank for claiming deduction under section 80C by an individual taxpayer in the name of minor son is a permitted tax planning measure under the provisions of income-tax law.
Topics: Corporate Tax Planning
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