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What is Tax Evasion?

Sunday, September 9, 2018, 3:35 PM

Tax evasion refers to the illegal act of escaping taxes. Under tax evasion, people try to reduce the tax liability, either by under-reporting income or inflating expenses. Tax evasion is an offense and people found evading taxes, could face criminal charges, prosecution and substantial penalties. Eg: Disclosing unreal income.
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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.
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#8. Before You Walk Down the Aisle

Saturday, April 7, 2018, 1:37 PM

Though it might be an exciting when you're considering taking the plunge and getting married, don't forget that you really need to have a serious talk with your new partner about money, before you get married. Though this may be an awkward discussion to have, you need to know what your partner earns, debts owed and the life partners financial plans for the future.

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