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MBA/BBA

INCOME TAX PLANNING IN INDIA

0 sold33 viewsUpdated 6 years ago
Tax Planning has been described as a refined form of ‘tax avoidance’ and implies arrangement of a person’s financial affairs in such a way that it reduces the tax liability. This is achieved by taking full advantage of all the tax exemptions, deductions, concessions, rebates, reliefs, allowances and other benefits granted by the tax laws so that the incidence of tax is reduced. Exercise in tax planning is based on the law itself and is therefore legal and permanent.

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