https://www.taxtmi.com/circulars?id=68203 Guidelines set the framework for compounding of offences under the Income Tax Act: all offences are compoundable, compounding is not admission, and applications may be filed at any time before the jurisdictional Principal CCIT/CCIT/Pr. DGIT/DGIT using the Annexure I affidavit format. Pending applications as on issuance are governed by the revised rules without fresh filing or fee; defective applications may be cured within one month. Compounding charges are re computed for pending matters as first applications and for subsequent applications are increased by multiplicative rates per sequence, with a 50% surcharge for applications filed more than 12 months after prosecution initiation; payment extensions up to 24 months are allowable without interest. en-us Mon, 17 Mar 2025 00:00:00 +0530 Wed, 19 Mar 2025 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68203 Guidelines set the framework for compounding of offences under the Income Tax Act: all offences are compoundable, compounding is not admission, and applications may be filed at any time before the jurisdictional Principal CCIT/CCIT/Pr. DGIT/DGIT using the Annexure I affidavit format. Pending applications as on issuance are governed by the revised rules without fresh filing or fee; defective applications may be cured within one month. Compounding charges are re computed for pending matters as first applications and for subsequent applications are increased by multiplicative rates per sequence, with a 50% surcharge for applications filed more than 12 months after prosecution initiation; payment extensions up to 24 months are allowable without interest. Circulars Income Tax Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68203