company secretary

CS Professional Programme Tax Notes
Prepared by: CA R Giridharan FCA Collected by: Santhosh Thomas Thaikkadan
Tax Management
Tax Management is essential, Tax planning is desirable and Tax evasion is objectionable. Elaborate.
Tax Planning

Tax Management

Tax Evasion

Tax planning is to avail Tax management refers to Tax evasion refers to ways maximum benefit

deductions, rebates of the steps taken to ensure and means adopted by a

exemptions, compliance

etc

and

with

the tax payer to evade tax by

thereby provisions of the tax laws.

minimizing tax liability.

falsifying

accounts

concealing

or

income,

inflating expenses etc.
It’s

fully

within

the It’s undertaken to fulfill the It’s clearly violations of law

framework of law and it requirements contained in and unethical in nature. It makes use of the beneficial the provisions of the law.

includes

provisions in law.

deceit.

The

judiciaries

in

an

element

of

India It is obligatory to exercise This is clearly prohibited,

accept this concept.

tax management.

as it is fully illegal.

It is a rewarding concept It aims at avoiding costs When proved, tax evasion for professionals/ experts arising as consequences of invites stringent penalties as it allows making use of non – compliance of law. and beneficial thus

provisions

and Thus

it

helps

the

against

tax the person who is found

tax planning to be successful.

minimizing

prosecution

engaged in it.

liability.
It is futuristic in approach Tax mgmt relates to the There is nothing like past,
(assessment present or future approach

i.e. it aims at minimizing past the tax

liability

future years.

of

appeal, in case of tax avoidance.

the proceedings,

revision, rectification etc), present( filing of return) and Courtesy: CA R Giridharan FCA

future

1

(corrective