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Notification No.: 285/08/2014-IT (Inv.V)/163
Notification Date: 17th October 2024
Relevant Act/Rule : Income Tax, 1961
Relevant Section / Rule: Section 279(2), read with Section 2(15A) and 2(21)
CBDT has reviewed and issued revised guidelines for compounding of offences under Income Tax Act, 1961.
Scope of the Guidelines to prosecutions under Income Tax Act, 1961
These guidelines shall be applicable w.e.f. 17th October 2024 and shall apply to:
Conditions for Consideration of Compounding Application
Offences may be considered for compounding if all the following conditions are satisfied:
Revival of a defective application: It has been specified that any application if found defective due to curable defects, may be revived if such defects are cured within one month from the date of intimation of such defects.
Offences compoundable with the approval of higher authority: These guidelines have specified certain offences which can be compounded only with the approval of Chairman, CBDT.
Competent Authority to Compound an Offence: These guidelines have specified that Pr. CCIT / CCIT / Pr. DGIT / DGIT are the competent authorities for compounding of offences.
Compounding Procedure: These guidelines have specified detailed procedure to be followed for compounding of an offence.
Compounding Charges: These guidelines have specified Compounding Charges to be paid for compounding of an offence.
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