Relief against income tax offences: New compounding guidelines issued by CBDT to help taxpayers in preventing prosecution

Income tax offences: Now you will have to follow the revised guidelines for compounding of income tax offences under the Income Tax Act, 1961. This is helpful for those taxpayers who want to settle their case under income tax if its already under prosecution. "The revised guidelines supersede all existing guidelines on the subject and would apply to pending as well as new applications, from the date of its issue."

from Tax-Wealth-Economic Times https://ift.tt/YgxuOQj