Question

What aspects are included in tax management. explain in brief?

Answer 1

Tax management is a very wide term which takes within its fold tax planning, tax compliance and tax advisory of direct and indirect taxes. All issues concerning tax comes withing the scope of tax management. The points to be considered in tax management would depend upon a host of issues which includes the status of the assessee whose taxes are to be managed, the nature and sources of income, the various taxes which has a bearing on the assessee, the year for which taxes are to be managed, the quantum and the nature and source of income, the various special provisions having bearing on the assessee and expert knowledge of the statutes under direct and indirect taxes.

Answer 2

Tax management is a vast term, which includes many aspects including tax planning, tax compliance and tax advisory of direct and indirect taxes.

All the issues related to tax come inside the coverage of tax management.

The points which are taken into consideration in tax management depend on issues like status of the tax payer, the source of income, the various taxes which has bearing on tax payer, the years for which the taxes are to be managed, etc.