https://www.taxtmi.com/circulars?id=68298 Computation of the tax sought to be evaded for compounding is the tax on the difference between tax on income determined in assessment and tax on income shown in the original regular return; where no regular return exists, that tax is treated as nil. The explanation requires using the maximum marginal rate for certain assessment types and the statutory tax basis for specified reassessment provisions, and applies to pending and subsequent compounding petitions from the effective date. en-us Thu, 12 Apr 2007 00:00:00 +0530 Wed, 06 Aug 2025 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68298 Computation of the tax sought to be evaded for compounding is the tax on the difference between tax on income determined in assessment and tax on income shown in the original regular return; where no regular return exists, that tax is treated as nil. The explanation requires using the maximum marginal rate for certain assessment types and the statutory tax basis for specified reassessment provisions, and applies to pending and subsequent compounding petitions from the effective date. Circulars Income Tax Thu, 12 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68298