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?

Question

TuteeHUB · Accepted Answer

Both Statements I and II are incorrect

TuteeHUB · Answer

Both the Statements I and II are correct

TuteeHUB · Answer

Statement I is correct but II is incorrect

TuteeHUB · Answer

Statement II is correct but I is incorrect

1.	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?
A.	Both the Statements I and II are correct
B.	Statement I is correct but II is incorrect
C.	Both Statements I and II are incorrect
D.	Statement II is correct but I is incorrect
Answer» C. Both Statements I and II are incorrect

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