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TMI BlogShow cause reply U/s 276BX X X X Extracts X X X X X X X X Extracts X X X X ..... One of my client has recieved a show cause 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 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... offence and you can also request the department for 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 per month and you should also agreed to pay the prosecution establishment expenses . So you just write a letter to the commissioner for the compoundin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g of the offence and indicate your agreement to pay 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 commited should have been the first offence . Thanks ,Amal Raj - Reply By kavish rizvi - The Reply = Thanks a lot sir for your valuable sugges ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion as i was looking for the reply from very before. Thanks !nce again sir. - Show cause reply U/s 276B - Query Started By: - kavish rizvi Dated:- 17-10-2012 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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