What is Tax Avoidance?
Sunday, September 9, 2018, 3:14 PM
Tax avoidance refers to a situation, where taxpayers reduce the amount of tax to be paid to government, by making use of tax deductions and exemptions. It is a legal way of reducing the tax burden. This method helps in reducing tax liability, without the breach of any laws. Eg: Making use of deductions available under Section 80C, 80CCC, 80CCD, 80DD and so on.