ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
By understanding tax laws, you can make sure you don’t pay more than you have to
|
|
Investment
|
|
|
Tax Planning
|
|
|
Budget
|
|
|
Financial Plan
|
Explanation:
Detailed explanation-1: -Who needs to pay Income Tax? Under existing rules of the IT Act, any individual/business with income irrespective of the amount earned is liable to file income tax returns. But, currently tax on income is payable only if the net taxable income for a fiscal exceeds Rs. 2.5 lakh.
Detailed explanation-2: -Tax evasion is a crime for which the assesse could be punished under the law. Tax Planning: Tax planning is process of analyzing one’s financial situation in the most efficient manner. Through tax planning one can reduce one’s tax liability.
There is 1 question to complete.