Question

Choose the correct statement

1. Foreign Account Tax Compliance Act is a recent legislation to curb black money in India.
2. Tax evasion is the illegal way of evading taxes by individuals only.
3. Overstating deduction is a form of generating black money.
4. Tax evasion penalties can be harsh depending on the severity of the crime.

विकल्प

• (i), (ii) are correct

• (ii), (iii), (iv) are correct

• (i), (iv) are correct

• All are correct.

Answer 1

(i), (iv) are correct