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Tax planning is honest and right approach to attain the maximum benefit of taxation laws within its framework only. Objectives of tax planning are:
1. Productive investment
2. Un-healthy growth of economy
3. Minimisation of litigation
4. Increase in tax liability.

Tax planning is honest and right approach to attain the maximum benefit of taxation laws within its framework only. Objectives of tax planning are:
1. Productive investment
2. Un-healthy growth of economy
3. Minimisation of litigation
4. Increase in tax liability. Correct Answer 1 and 3

Related Questions

Which of the following components are true about tax planning?
1. Tax planning is the process of analyzing a financial plan or a situation from a tax perspective.
2. The objective of tax planning is to make sure there is tax efficiency. With the help of tax planning, one can ensure that all elements of a financial plan can function together with maximum tax-efficiency.
3. Reducing tax liability and increasing the ability to make contributions towards retirement plans are critical for success.
4. Tax planning comprises various considerations such as size, the timing of income, timing of purchases, and planning are concerned with other kinds of expenditures.
5. The chosen investments and the various retirement plans should go hand-in-hand with the tax filing status as well as the deductions in order to create the best possible outcome.
Statement I): If the tax liability has been reduced within the legal framework, it is tax planning. Statement II): If tax liability has been reduced to get the benefit of deduction available under the income tax, it is called tax evasion. In the context of the above two statements, which one of the following codes is correct?
Statement (I): If the tax liability has been reduced within the legal framework, it is tax planning.
Statement (II): If tax liability has been reduced to get benefit of deduction available under the income tax, it is called tax evasion.
In the context of the above two statements, which one of the following is correct?
Which of the following statements are correct? 1. Ability to pay the principal of taxation holds that the amount of taxes people pay should relate to their income or wealth 2. The Benefit Principle of taxation states that individuals should be taxed in proportion to the benefit they receive from Government programmes 3. A progressive tax takes a larger share of tax from poor families than it does from rich families 4. Indirect taxes have the advantage of being cheaper and easier to collect Select the correct answer using the code given below:
Which of the following statements are true/false?
1. Societal objectives of HRM deals with compliance with natural laws, human right lows and labour laws.
2. The personnel objectives entails manpower planning.
3. The functional objectives comprise of recruitment, selection, training, appraisal and others.
Which of the following benefits are given under the Employees State Insurance Act, 1948? (a) Sickness benefit, maternity benefit. (b) Disablement benefit, dependent benefit. (c) Medical benefit for employee and his dependents. (d) Funeral benefit.
Given below are four jumbled sentences. Out of the given options pick the one that gives their correct order. A. So, in the agrarian era, you destroy your enemy’s productive capacity by burning his crops or fields. B. Now, in the information era, destroying the enemy’s productive capacity means destroying their information infrastructure. C. You battle with your enemy by destroying the enemy’s productive capacity, which will be different depending upon the foundation of economy. D. But in the industrial era, ending productive capacity meant bombing of the factories that are located in cities and main industrial areas.
Propositions as regards the liability of the surety under the surety bond are:
1. The liability of the surety is mutually exclusive of the liability of the accused under his personal bond.
2. The liability of the surety is contingent on the liability of the accused under his personal bond the liability of the surety.
3. is limited to the amount of the surety bond.
Now which of the following is correct
Study the given Venn diagram and answer the question that follows. A State has 7500 officers. Among them, 62% officers are punctual (P), 58% officers are honest (H) and 70% officers are brave (B). 38% officers are punctual (P) and honest (H), 48% are honest (H) and brave (B) and 36% are punctual (P) and brave (B). What percentage of the officers are punctual (P), honest (H) and brave (B)?
Given below are four statements. Among them two are related in such a way that they can both be true but they cannot both be false. Select the code that indicates those two statements : Statements : (a) Honest people never suffer. (b) Almost all honest people do suffer. (c) Honest people hardly suffer. (d) Each and every honest person suffers.