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Statement (I): If the tax liability has been reduced within the legal framework, it is tax planning.<br>Statement (II): If tax liability has been reduced to get benefit of deduction available under the income tax, it is called tax evasion.<br>In the context of the above two statements, which one of the following is correct?

Correct Answer: Statement (I) is correct, but (II) is incorrect

Which of the following components are true about tax planning?
1. Tax planning is the process of analyzing a financial plan or a situation from a tax perspective.
2. The objective of tax planning is to make sure there is tax efficiency. With the help of tax planning, one can ensure that all elements of a financial plan can function together with maximum tax-efficiency.
3. Reducing tax liability and increasing the ability to make contributions towards retirement plans are critical for success.
4. Tax planning comprises various considerations such as size, the timing of income, timing of purchases, and planning are concerned with other kinds of expenditures.
5. The chosen investments and the various retirement plans should go hand-in-hand with the tax filing status as well as the deductions in order to create the best possible outcome.

A university library budget committee must reduce exactly five of eight areas of expenditure—I, J, K, L, M, N, O and P—in accordance with the following conditions: If both I and O are reduced, P is also reduced.
If L is reduced, neither N nor O is reduced.
If M is reduced, J is not reduced.
Of the three areas J, K, and N exactly two are reduced. Question : If both K and N are reduced, which one of the following is a pair of areas neither of which could be reduced?

Propositions as regards the liability of the surety under the surety bond are:
1. The liability of the surety is mutually exclusive of the liability of the accused under his personal bond.
2. The liability of the surety is contingent on the liability of the accused under his personal bond the liability of the surety.
3. is limited to the amount of the surety bond.
Now which of the following is correct

Direction : Two statements I and II are given. These statement may be either independent causes or may be effects of independent causes or a common cause. One of these statements may be the effect of the other statements. Read both the statements and decide which of the following answer choice correctly depicts the relationship between these two statements. Mark answer :

I. The government has decided to give tax benefits for small savings for investments and benefit accruals. However, all withdrawals of such savings are to be taxed.
II. People have been investing more in small savings than in equity market to avail maximum tax benefits.

In the following question, two statements are given each followed by two conclusions I and II. You have to consider the statements to be true even ifthey seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statement: (I) In the GST Model in India, it would be dual tax (GST) with the center and states simultaneously levying tax on a common base tax.
(II) The central and state GST would be levied on every transaction of supply of goods and services simultaneously. Conclusions:
(I) This new tax regime would benefit common man of country.
(II) There would be more clarity on state and central component.

A man's annual income has increased by Rs 5 lakhs but the tax on income that he has to pay has reduced from 12% to 10%. He now pays Rs 10,000more income tax. What is his increased income (in Rs lakhs)?

Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).
Assertion (A): Tax should not be charged on dividend income from the shareholders.
Reason (R): Some economists are of the opinion that when tax has already been paid on the profit of the company and balance is distributed as dividend to the owners, tax need not be levied on them.
In the light of the above two statements, choose the correct answer from the options given below.

n the following passage, some of the words have been left out. Read the passage carefully and select the correct answer for the given blank out of thefour alternatives. The rising sun has great inner ______. Not just to ______ the new morning right after the dark night, but also the new rhythms and vibrations within existence. Theentire universe – including the trees, birds and flowers – wake up to the rising sun. When we listen to the birds chirping and see the flower petals open, rememberthat the sunrise is not just a great happening on the outside. If we are alert and aware, then the sunrise is also happening deep within us. Something within ourselvesis also ______ with the first rays of the sun. We just need to be sensitive and available; we just need to be ______. Like the outside world, we need to open the inner doorto let the new dawn enter within. Just open the window of our inner world and allow the beautiful experience of sunrise to ______ within ourselves – this experience isbeyond anything earthly. sunrise to ______ within ourselves

Tax planning is honest and right approach to attain the maximum benefit of taxation laws within its framework only. Objectives of tax planning are:
1. Productive investment
2. Un-healthy growth of economy
3. Minimisation of litigation
4. Increase in tax liability.

Directions: Seven different boxes A, B, C, D, E, F and G of different colours viz., Orange, Pink, Purple, Yellow, Blue, Red and Green are arranged one above the other. The box at the bottom of arrangement is numbered 1, the above box is numbered 2 and so on. B is immediately above E. More than two boxes are above the Orange box. The Yellow box is immediately below A. Only one box is between the Orange box and F. G is immediately above the Red box. Only one box is between B and the Pink box. Only two boxes are between the Pink and the Green box. Only two boxes are between the Yellow box and the Orange box. The Purple box is neither at the top nor at the bottom of the arrangement.B is above Pink box. C is immediately above F. Neither C nor G is a Yellow box. G is not a Orange box. Question: Which combination represents the position of C and its colour?