| Past studies have shown that corporate tax have significant impact on dividend policy, industrial growth, FDI inflows, capital structure etc. so if this tax structure can be simplified and tax burden can be reduced then a significant amount of savings can be allocated towards industrial growth. The present study discusses the taxation of Indian corporates under the law. Also the study makes comparison between tax planning, tax avoidance and tax evasion. The present paper discusses the various tax planning strategies available under income tax act 1961. The paper concludes that if a corporate can properly use the available resources then tax liability can be significantly reduced. |