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Worksheetstax planning
Total questions: 15
Worksheet time: 5mins
The goal of tax planning generally is to
Minimize taxes
Maximize after-tax wealth
Support the federal government
Minimize IRS scrutiny
1. Tax Planning is medium of reducing tax-
a. Legal way
b. Moral Way
c. Wise way
d. All of the above
1. Causes of tax evasion-
a. Higher Tax rates
b. Complexities of provisions
c. Corruption
d. All the above
1. Objective of tax planning-
a. Avoidance of tax
b. Minimise of Tax liability
c. Payment of tax on time
d. Differment of tax
Tax planning is adopted by-
a. Income tax payers
b. Investors
c. Industrialists
d. All the above
Subject matter of Tax Planning is-
a. Heads of Income
b. Deductions
c. Investment options
d. All the above
Tax Planning is opted in the reference of the following-
a. Only Income Tax
b. Only Direct Tax
c. Direct & Indirect Tax both
d. Central Taxes
In tax avoidance-
a. Not obey legal provision
b. Avail benefit of loopholes
c. Misinterpretation of provisions
d. All the above
Reducing of tax liability by showing lower income-
a. Tax Avoidance
b. Tax Planning
c. Tax Evasion
d. All of the above
Medium of tax Planning-
a. Rebates
b. Incentives
c. Deductions
d. All the above
The following included in the scope of Tax Planning-
a. Investment Planning
b. Financial Management Planning
c. Individual Tax Planning
d. All the Above
Showing lesser income than the actual income is the case of
Tax planning
Tax avoidance
Tax evasion
All of the above
Unethical tax planning is also known as
Tax management
Tax avoidance
Tax planning
Tax evasion
------------- is known as white collar crime.
Tax evasion
Tax management
Tax management
Tax avoidance
Transfer of asset with the purpose to reduce the tax liability is the case of
Tax planning
Tax evasion
Tax management
Tax avoidance
