22
Question
Underreporting of income, hiding money, and inflating expenses are ways of
Underreporting of income, hiding money, and inflating expenses are ways of
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Solution
The correct option is B tax evasion
By underreporting income, hiding money, and inflating expenses, the total taxable income reduces. This also reduces the tax liability. The income on which taxes are evaded is called black money.
By underreporting income, hiding money, and inflating expenses, the total taxable income reduces. This also reduces the tax liability. The income on which taxes are evaded is called black money.
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