This document discusses various aspects of income tax law and practices in India. It covers topics like tax planning, tax management, tax evasion, and tax avoidance. Tax planning involves availing all exemptions, deductions and rebates legally to minimize tax liability. Tax management refers to statutory compliance like maintaining accounts and making timely tax payments. Tax evasion is the illegal act of escaping taxes through concealment or misrepresentation. Tax avoidance uses legal methods and loopholes to lower tax owed but is not illegal.

1. INCOME TAX LAW &
PRACTICES
PRESENTED BY-
SONAL SAHU

2. CONTEXT
Tax planning(how the tax planning is done for an
individual)
Tax management
Tax evasion
Tax avoidance

3. How The Tax Planning Is Done For An
Individual?
Tax Planning involves planning in order to avail all exemptions,
deductions and rebates provided in Act.
METHODS
Short Term Tax Planning
Long Term Tax Planning
Purposive Tax Planning
Permissive Tax Planning

4. Exemptions
• U/S 10
Rebates
• U/S 87A
Deductions
• U/S 80C-80U

5. TAX MANAGEMENT
Tax management refers to the compliance with the statutory
provisions of laws.
Tax management is mandatory
It includes maintenance of accounts filing of Return, payment of
taxes, deducting tax at source timely payment of advance tax, etc.

6. TAX EVASION
An illegal act, made to escape from paying taxes is known as tax
evasion
Such illegal practices can be deliberate concealment of income,
manipulation in accounts, disclosure of unreal expenses for
deductions, showing personal expenditure as business expenses,
overstatement of tax credit or exemptions suppression of profits
and capital gains, etc.

7. TAX AVOIDANCE
• Tax avoidance is the use of legal methods to modify an
individual's financial situation to lower the amount of income
tax owed.
• There is no element of malafide motive in tax avoidance