Specify whether the following acts can be considered as (i) Tax planning; or (ii) Tax management; or (iii) Tax evasion. A bank obtaining declaration from depositors in Form No. 15G/15H and forwarding the same to income-t
CS Professional · Advanced Tax Laws and Practice · PYQS · December 2018
Specify whether the following acts can be considered as (i) Tax planning; or (ii) Tax management; or (iii) Tax evasion. 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, 1961
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