<h1>CBDT Revises Guidelines: Offences u/s 276 Now Compoundable, Extends Application Time, Caps Fees, Simplifies Procedures.</h1> The Central Board of Direct Taxes (CBDT) has issued revised guidelines for the compounding of offences under the Income-tax Act, 1961, aiming to facilitate ease of doing business and decriminalize certain offences. Key changes include making offences under Section 276 compoundable and expanding eligibility for compounding cases, including those with imprisonment under two years. The discretion of authorities has been limited, and the time for accepting compounding applications has been extended to 36 months. Procedural complexities have been simplified, and compounding fees have been capped, with reduced penal interest rates for delays in payment.