Q.
1
Statement (I): If the tax liability has been reduced within the legal framework, it is tax planning.
Statement (II): If tax liability has been reduced to get benefit of deduction available under the income tax, it is called tax
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A
Both the statements (I) and (II) are correct
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B
Statement (I) is correct but (II) is incorrect
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C
Both the statements (I) and (II) are incorrect.
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D
Statement (II) is correct but (I) is incorrect