TaxTMI 
TaxTMI 
Show cause reply U/s 276B
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....how cause reply U/s 276B<br> Query (Issue) Started By: - kavish rizvi Dated:- 17-10-2012 Last Reply Date:- 3-11-2012 Income Tax<br>Got 2 Replies<br>Income Tax<br>One of my client has recieved a show c....
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....ause notice U/s 276B of depositing the TDs late in the govt treasury. So i wanna know that how to reply to the show cause and what matters to b included that wud be teenable. Can the prosecution be ....
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....replaced by penalty only?? Please solve this as soon as possible. Reply By Amalraj Michael: The Reply: Dear Sir You can go for compounding of the offence and you can also request the department fo....
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....r the waiver of any penalty .However you should pay the interest for the delayed time . When you go for compounding , you need to pay the compounding fee which will be around 5% of the default amount ....
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....per month and you should also agreed to pay the prosecution establishment expenses . So you just write a letter to the commissioner for the compounding of the offence and indicate your agreement to pa....
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....y any compounding fee and prosecution establishment expenses . I think that the department will agree for this proposition and thus you can avoid any prosecution under 276B. The offence you have com....
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....mited should have been the first offence . Thanks ,Amal Raj Reply By kavish rizvi: The Reply: Thanks a lot sir for your valuable suggestion as i was looking for the reply from very before. Thanks....
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.... !nce again sir.<br> Discussion Forum - Knowledge Sharing ....