Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New guidelines simplify compounding of direct tax offences under amended rules, reducing fees and removing approval barriers</h1> Amendments to guidelines for compounding offences under Direct Tax Laws remove the distinction between first and subsequent technical offences, allowing Chief Commissioners or Directors-General of Income-tax to compound all technical offences without Board approval, provided conditions are met. The requirement to seek Ministry of Law advice for compounding substantive offences involving amounts over Rs. 1 lakh is eliminated. Compounding fees for various offences, including failure to deduct or pay tax, non-compliance with sections 269SS and 269T, failure to furnish returns, and wilful tax evasion, are substantially reduced to encourage compounding. These amendments apply to pending and future cases but not to offences already compounded and extend mutatis mutandis to other Direct Tax Laws. Existing guidelines and clarifications remain applicable unless amended.
TaxTMI 
TaxTMI 
