State with brief reason, whether the following relate to tax planning, tax avoidance or tax evasion: Investment in bonds approved for purposes of section 54EC.
CS Professional · Advanced Tax Laws and Practice · PYQS · June 2018
State with brief reason, whether the following relate to tax planning, tax avoidance or tax evasion: Investment in bonds approved for purposes of section 54EC.
Answer & Explanation:
Investment in Bonds approved u/s 54EC will reduce tax liability relating to Capital Gains. It is an act of Tax Planning .
Topics: Income Tax Act, 1961
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