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Difference Between 'Tax Avoidance' and 'Tax Evasion'
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Where the payment of tax is avoided though by complying with the provisions of law but defeating the intension of the law is known as tax Avoidance.
TAX AVOIDANCE
Where the payment of tax is avoided through illegal means or fraud is termed as tax evasion.
TAX EVASION
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Tax Avoidance is undertaken by taking advantage of loop holes in law.
TAX AVOIDANCE
Tax evasion is undertaken by employing unfair means.
TAX EVASION
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Tax Avoidance is done through not malafied intention but complying the provision of law.
TAX AVOIDANCE
Tax Evasion is an unlawful way of paying tax and defaulter may punished.
TAX EVASION
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Tax Avoidance looks like a tax planning and is done before the tax liability arises.
TAX AVOIDANCE
Tax evasion is blatant fraud and is done after the tax liability has arisen.
TAX EVASION
