CBDT makes some offences under I-T Act compoundable{br} https://ift.tt/3FInCdP

The Central Board of Direct Taxes on Saturday unveiled revised guidelines for compounding of offences under the Income Tax Act, aimed at facilitating ease of doing business and decriminalisation of violations. Some of the major changes made for the benefit of taxpayers include making offence punishable under Section 276 of the Act as compoundable. This would mean that the taxpayer will have the option of avoiding prosecution or jail term by paying a fine subject to fulfilling certain conditions.

from Times of India https://ift.tt/w4j9DNn