Question

A Ltd Co. Registered their Business in SEZ and start the manufacturing of hand made wooden articles. The Business generated hand some profit. At the end of the financial year. They submitted ITR within the due date and claiming deduction under section 80-IAB by submitting the relevant documents to the Tax Authority. The Reduction of Tax liability in this way is known as:

• A. Tax planning
• B. Tax Avoidance
• C. Tax Evasion
• D. Tax Management

Answer 1

The Correct Option is A

The correct answer is (A) : Tax planning.