Compounding fees vary by nature of tax default, with higher rates for willful evasion and caps tied to amounts sought to be evaded. Compounding fees for income tax offences vary by nature and seriousness: fraudulent concealment fees are a proportion of the recovery avoided; TDS/TCS defaults attract monthly fees (higher on repeat defaults) capped at the TDS/TCS in default with period from deduction to deposit; willful tax evasion attracts elevated rates tied to tax or penalty sought to be evaded and cannot exceed the amount sought to be evaded. Return filing and notice compliance defaults incur daily fees within prescribed bands; falsification and false verification fees track the tax or false entry value with specified minimums; co accused liability is a percentage of the main offence fee.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Compounding fees vary by nature of tax default, with higher rates for willful evasion and caps tied to amounts sought to be evaded.
Compounding fees for income tax offences vary by nature and seriousness: fraudulent concealment fees are a proportion of the recovery avoided; TDS/TCS defaults attract monthly fees (higher on repeat defaults) capped at the TDS/TCS in default with period from deduction to deposit; willful tax evasion attracts elevated rates tied to tax or penalty sought to be evaded and cannot exceed the amount sought to be evaded. Return filing and notice compliance defaults incur daily fees within prescribed bands; falsification and false verification fees track the tax or false entry value with specified minimums; co accused liability is a percentage of the main offence fee.
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