Consider the following statements:
1. Tax avoidance refers to avoiding payment of tax through illegal means or fraud.
2. Tax evasion refers to avoiding payment of taxes by taking advantage of loop holes in tax laws.
Which of the statements given above is/are correct?
a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2
D. Neither 1 nor 2
