Guidelines – In case of persons holding undisclosed foreign bank accounts/ assets

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....10055. Dated: 04th September, 2015 To All Pr.CCsIT/CCsIT/Pr.DOsIT/DGsIT Sir/Madam, Subject: Guidelines for Compounding of Offences under Income Tax Act, 1961/Wealth tax Act, 1957 in cases of persons holding undisclosed foreign bank accounts/assets -reg. Doubts have been expressed by the field formation as to whether offences relating to undisclosed foreign bank accounts/assets co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ounts with which he is associated) or partially (only a few accounts out of all accounts with which he is associated), paid taxes and penalty and co-operated with the Department may be considered for compounding as per the guidelines dated 23-12-2014, only after filing the complaints. 3. This clarification is issued in continuation to the Board's guidelines for compounding of offences dated....