Which of the following statements is incorrect?
Show Hint
- Tax planning promotes professionalism and strengthens economic conditions
- Tax planning is within the legal purview
- Tax evasion is a legal offence which may result in prosecution
- Tax avoidance is unlawful
The Correct Option is D
Solution and Explanation
Step 1: Definitions.
- Tax planning → Legal and encourages efficiency
- Tax avoidance → Legal, reduces tax liability within law
- Tax evasion → Illegal
Step 2: Identify incorrect statement.
"Tax avoidance is unlawful" is incorrect
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