Saving tax by hiding income

Saving tax by hiding income #supremecourt #tax #finance #money #deposit #bank #law

Transcript

00:00Salary is on the way, I invest in this way that I don't need to tax the government.

00:05But if I don't show my income, then what kind of tax?

00:08There are two things.

00:10Tax evasion and tax avoidance.

00:12Tax avoidance is using legal loopholes to create such situations

00:16where my tax liability is reduced.

00:19It's completely legal, it just needs a little smartness.

00:22Tax evasion is when you don't give a legally due amount to government.

00:26It's illegal and is also punishable.

00:29If I don't want to invest in my income specific investments,

00:32your tax liability is completely legal and right.

00:36But if I don't want to save your income tax evasion?

00:40Not really.