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TAX OFFENCE COMPOUNDING
Man bought demo car at big discount, RTO officer seized it citing Rs 60 lakh road tax dues; Karnataka HC gives relief to car ownerA Bengaluru RTO officer unlawfully seized Mr. Rama's demo car, leading to a zero FIR and charges of fraud. The Karnataka High Court quashed...- ED probes alleged ESOP misuse to launder money, bypass LRS rulesThe Enforcement Directorate is now looking into employee stock options from foreign firms given to Indian workers. This move aims to uncove...
- Income tax offences: To avoid jail term when can you use income tax compounding provisions; CBDT issues new FAQIncome tax: The Central board of Direct Taxes (CBDT) has released new FAQs on compounding of offences. Under these provisions if you have a...
- CBDT makes all Income Tax offences compoundable, eases rules for defaultersThe central board of direct taxes (CBDT) has made all offences under the income-tax law compoundable if the applicant is not involved in an...
- Relief against income tax offences: New compounding guidelines issued by CBDT to help taxpayers in preventing prosecutionIncome tax offences: Now you will have to follow the revised guidelines for compounding of income tax offences under the Income Tax Act, 19...
- Income tax department issues revised guidelines for compounding of offencesOn Thursday, the income tax department announced revised guidelines for compounding offences under the I-T law, simplifying the process and...
- Govt working on decriminalising certain offences under GST, lower compounding chargesThe government is working on making the provision under GST Act for prosecution more simpler and friendly for taxpayers. Section 132 under ...
- Don't go overboard against GST offencesPenalties must be commensurate with the offence. Decriminalising offences and switching to monetary penalties will lower the burden on cour...
- Income Tax department relaxes norms for compounding of offenceIssuing the revised guidelines for Compounding of offences under the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) said: "...
- FinMin makes unauthorised publication of export-import data compoundable offenceThe Central Board of Indirect Taxes and Customs (CBIC) on August 22 notified the amendments to the Customs (Compounding of Offences) Amendm...
- CBDT extends till Jan 31 deadline for compounding of I-T offencesThe CBDT, while launching the scheme in September last year, had said that this "one-time measure" is being undertaken to mitigate unintend...
- CBDT launches one-time facility for compounding of income tax offencesA one-time facility to apply for compounding of income tax offences has been launched and taxpayers can avail this opportunity by December ...
- From now, tax defaulters can't get away by just paying fineRevised rules will come into effect from June 17 and supersede the earlier guidelines issued in 2014.
- CBDT issues new guidelines for compoundingThe latest guidelines from the Central Board of Direct Taxes, which come into effect from June 17, clearly state offences in this category ...
- IT officers lax on filing for prosecution and compounding applications, says CBDT chairmanThe CBDT chairman has directed officers to put in their best and expedite filing of prosecution complaints and disposal of compounding appl...
- Black money: No compounding of cases falling under new Act, says CBDTThe new Act provides for tax and penalty of 120 per cent and jail term of up to 10 years for holding undisclosed foreign assets.
- Undisclosed foreign bank accounts: CBDT issues guidelines for compounding of offencesThe CBDT clarified that the matter was examined in consultation with the Special Investigation Team (SIT) on black money.
- SIT proposal: Compound offences for black money holdersSIT probing black money has approved compounding of offences under the Income-Tax Act for Indians holding accounts in foreign banks.
- 18-year case against Jayalalithaa & Sasikala set to be closed as they pay compounding feeJaya, for instance, paid compounding fee of Rs 7,52,637, prosecution establishment charges of Rs 50,000 and litigation expenes of Rs 22,81,...
- Tax case against Jayalalithaa posted to August 7A court today adjourned the income tax return cases against Tamil Nadu Chief Minister Jayalalithaa and her aide Sasikala to August 7.
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