"______" will be used to describe every attempt by legal means to prevent or reduce tax liability which would otherwise be incurred by taking advantage of some provision or lack of provision of law. It excludes fraud, co

CS Executive · Tax Laws and Practice · PYQS · December 2020
"______" will be used to describe every attempt by legal means to prevent or reduce tax liability which would otherwise be incurred by taking advantage of some provision or lack of provision of law. It excludes fraud, concealment or other illegal measures.
(A) Tax Evasion
(B) Tax Planning
(C) Tax Avoidance
(D) Tax Management

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Tax Planning, Avoidance and Evasion

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