Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Income-tax and Corporate Tax Planning Income-tax
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?
1
Both the Statements I and II are correct
2
Statement I is correct but II is incorrect
3
Both Statements I and II are incorrect
4
Statement II is correct but I is incorrect