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The guidelines provide a comprehensive framework for compounding offenses under the Income Tax Act, 1961. The key points are: 1. Compounding is permissible for specified offenses, subject to certain exclusions like anti-national/terrorist activities, offenses related to black money, benami transactions, and repeat offenders. 2. The jurisdictional Pr. CCIT/CCIT/Pr. DGIT/DGIT is the competent authority for compounding. Detailed procedures and timelines are prescribed for processing applications. 3. Compounding charges are computed based on the tax amount involved and whether it is a first or subsequent application for the same offense type. Higher charges apply for delayed applications. 4. Co-accused persons in company/HUF offenses can file separate or joint applications. The order compounds offenses for all upon payment by any one party. 5. The compounding order does not constitute admission of the offense by the applicant. 6. Detailed formats are provided for the application affidavit, checklist for processing, and orders accepting or rejecting compounding. 7. Procedures for payment of compounding charges, withdrawal of prosecution complaints/appeals, and recovery of pending demands are outlined. The guidelines aim to streamline and encourage compounding while excluding grave offenses, ensuring effective prosecution for non-compoundable cases.
The guidelines provide a comprehensive framework for compounding offenses under the Income Tax Act, 1961. The key points are: 1. Compounding is permissible for specified offenses, subject to certain exclusions like anti-national/terrorist activities, offenses related to black money, benami transactions, and repeat offenders. 2. The jurisdictional Pr. CCIT/CCIT/Pr. DGIT/DGIT is the competent authority for compounding. Detailed procedures and timelines are prescribed for processing applications. 3. Compounding charges are computed based on the tax amount involved and whether it is a first or subsequent application for the same offense type. Higher charges apply for delayed applications. 4. Co-accused persons in company/HUF offenses can file separate or joint applications. The order compounds offenses for all upon payment by any one party. 5. The compounding order does not constitute admission of the offense by the applicant. 6. Detailed formats are provided for the application affidavit, checklist for processing, and orders accepting or rejecting compounding. 7. Procedures for payment of compounding charges, withdrawal of prosecution complaints/appeals, and recovery of pending demands are outlined. The guidelines aim to streamline and encourage compounding while excluding grave offenses, ensuring effective prosecution for non-compoundable cases.
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