Compunding of offences

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... What is the meaning of compounding of offences under section 37 of Income tax act ? Are there any examples to it, which can help me gain a better knowledge of what exactly it is? - Reply By Charu Tyagi - The Reply = Compounding of an offence means giving an opportunity to defaulter for settlement of charges and for prosecution against defaulter to avoid litigation proceedings For Example - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 1. Failure to furnish return of income. 2. Certain income not disclosed in return which is later find in an assessment. 3. Failure to pay Tax deducted at source. - Reply By Padmanathan Kollengode - The Reply = Dear Poornima Gupta Ji, Pls go through the Compounding Guidelines issued by CBDT dated 16-09-2022 vide F No. 285/08/2014-IT(Inv.V)/196. to gain knowledge on compounding. you can f .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ind the same in below link: https://incometaxindia.gov.in/Lists/Latest%20News/Attachments/540/Compounding-Guidelines-dated-16.09.2022.pdf Following are the main points discussed therein are: 1. Compounding of offence is not a matter of right. 2. Prosecution instituted under IPC cannot be compounded. 3. The guideline basically classifies offences as Category A and Category B for pu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rpose of compounding. 4. Application has been made for compounding. 5. Procedure explained for compounding. 6. Compounding fee and charges as prescribed has to be paid. - Compunding of offences - Query Started By: - Poornima Gupta Dated:- 25-9-2023 Last Replied Date:- 27-9-2023 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, per .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sonal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X