Specify with brief reason, whether the following acts can be considered as an act of (i) Tax management; or (ii) Tax planning; or (iii) Tax evasion: or (iv) Tax avoidance : (i) To reduce tax payable, Sunil Varma an indiv

Specify with brief reason, whether the following acts can be considered as an act of (i) Tax management; or (ii) Tax planning; or (iii) Tax evasion: or (iv) Tax avoidance : (i) To reduce tax payable, Sunil Varma an individual, paid ₹55,000 as life insurance premium on the policy of his minor son.