https://www.taxtmi.com/circulars?id=67865 Guidelines set a consolidated framework for compounding offences under the Income Tax Act: they apply from issuance to new and pending applications, require a prescribed affidavit, payment of a non refundable application fee, and settlement of all outstanding tax, interest and penalties. The jurisdictional Principal CCIT/CCIT/Principal DGIT/DGIT is the Competent Authority; certain high gravity or specified cases require prior Board approval. Procedure, timelines, electronic processing, and computation rules for compounding charges (based on tax excluding interest) are specified, including multiplicative increases for repeat or delayed applications and provisions for co accused and consolidated filings. en-us Thu, 17 Oct 2024 00:00:00 +0530 Wed, 06 Aug 2025 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67865 Guidelines set a consolidated framework for compounding offences under the Income Tax Act: they apply from issuance to new and pending applications, require a prescribed affidavit, payment of a non refundable application fee, and settlement of all outstanding tax, interest and penalties. The jurisdictional Principal CCIT/CCIT/Principal DGIT/DGIT is the Competent Authority; certain high gravity or specified cases require prior Board approval. Procedure, timelines, electronic processing, and computation rules for compounding charges (based on tax excluding interest) are specified, including multiplicative increases for repeat or delayed applications and provisions for co accused and consolidated filings. Circulars Income Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67865