https://www.taxtmi.com/news?id=11483 Retention of tax deducted at source beyond the due date is an offence under Section 276B of the Income Tax Act, 1961, attracting prosecution and possible rigorous imprisonment. The CBDT has removed the prior twelve month minimum retention threshold, permitting prosecution irrespective of retention duration. The offence is compoundable by the Chief Commissioner having jurisdiction, either before or after prosecution is launched, and compounding petitions have been allowed in appropriate cases. en-us Tue, 06 Aug 2013 13:38:19 +0530 Tue, 06 Aug 2013 13:38:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=11483 Retention of tax deducted at source beyond the due date is an offence under Section 276B of the Income Tax Act, 1961, attracting prosecution and possible rigorous imprisonment. The CBDT has removed the prior twelve month minimum retention threshold, permitting prosecution irrespective of retention duration. The offence is compoundable by the Chief Commissioner having jurisdiction, either before or after prosecution is launched, and compounding petitions have been allowed in appropriate cases. News - Tue, 06 Aug 2013 13:38:19 +0530 https://www.taxtmi.com/news?id=11483