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Consider the following statements.
Assertion (A): Tax evasion is undertaken by employing unfair means.
Reason (R): Payment of tax is avoided through illegal means or fraud for tax evasion.

A. Assertion (A) is correct and Reasoning (R) is the right explanation of (A)

B. Assertion (A) is correct but Reasoning (R) is not the right explanation of (A)

C. Both Assertion (A) and Reasoning (R) are correct independently and (R) may be considered as an explanation of (A)

D. Both Assertion (A) and Reasoning (R) are incorrect

Answer: Option A

This Question Belongs to Commerce >> Income Tax And Corporate Tax

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Statement (I): If the tax liability has been reduced within the legal framework, it is tax planning.
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