Tag Archives: #TaxEthics

Is tax planning legal?

Is tax planning legal

                                                                                 Is Tax Planning Legal    Tax planning is legal when it involves utilizing legitimate strategies… Read More »

What is difference between of Tax planning and Tax avoidance?

Tax planning and tax avoidance

                                                                                                              … Read More »

Q200 Members of parliament income tax: Do members of parliament pay income tax?

Members of parliament income tax

Members of parliament income tax Website Link Certainly! Members of Parliament (MPs) in India are subject to income tax on their earnings, just like any other individual. The Income Tax Act, 1961 applies to the income earned by MPs, encompassing their salary, allowances, and additional benefits. MPs fall under the category of public servants as… Read More »

What is the difference between tax avoidance vs tax evasion?

Tax Avoidance vs Tax Evasion Tax avoidance vs Tax evasion: Tax avoidance is a legal means of reducing one’s tax liability by using lawful methods to take advantage of available tax incentives or deductions. Tax evasion, on the other hand, is an illegal act of intentionally not reporting or under-reporting income, falsely claiming tax deductions,… Read More »