Academic MBA Question:
Question: Mr. Somaya recently joined as a marketing executive in a construction company. The Human resource department of the company recruited him at a CTC of Rs6.5 lacs, annually. The said department asked him to follow adequate tax planning so as to minimize income tax liability.
However, being a graduate in Marketing Somaya is confused among the
terms tax planning, tax avoidance and tax evasion. He approached you for
discussing the differences in these terms You recently come to know about the
difference by studying them under the course of Taxation – Direct and Indirect.
Explain him the needful with suitable examples.
Academic Assignment Answer: