A taxpayer fully discloses a long-term capital gain on a residential house and reinvests it in a qualifying new house to claim the exemption in section 82 of the Income-tax Act, 2025. Which term…

Arranging affairs to use a relief the law expressly offers, with full disclosure, is tax planning. Tax avoidance exploits gaps in the law against its intent, tax evasion is illegal concealment, and tax management refers to compliance tasks such as filing returns and paying tax on time rather than to choosing a relief.