With reference to the Income Tax Act, 1961, discuss whether the following acts can be considered as tax evasion, tax avoidance, tax planning, tax management or otherwise for the assessment year 2022-23 : (iv) A bank obta

CS Professional · Advanced Tax Laws · PYQS · December 2022
With reference to the Income Tax Act, 1961, discuss whether the following acts can be considered as tax evasion, tax avoidance, tax planning, tax management or otherwise for the assessment year 2022-23 : (iv) A bank obtaining declaration from depositors in Form No. 15G/15H and forwarding the same to income-tax authorities.

Answer & Explanation:

Obtaining declaration from depositors by a bank in Form 15G/15H and forwarding the same to the Income Tax Authorities is an act of Tax Management.

Topics: Income Tax Act

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