CBDT extends until Jan 31 cut-off date for compounding of I-T offences

NEW DELHI: The CBDT has prolonged until January 31 the remaining date for taxpayers to avail a “one-time” facility to use for compounding of source of revenue tax offences, an order issued on Friday stated. The sooner cut-off date was once December 31, 2019.

In I-T parlance, compounding implies that the taxman does now not record a prosecution case in opposition to the perpetrator or tax evader in court docket in lieu of fee of due taxes and surcharges.

The verdict to increase the remaining date was once taken “in view of references gained from box formations, together with requests made via ICAI (Institute of Chartered Accountants of India) chapters in which it’s been dropped at the awareness of the CBDT that the taxpayers may just now not avail the good thing about the one-time leisure window because of authentic hardships,” the order issued via the Central Board of Direct Taxation (CBDT) stated.

The order was once accessed via PTI.

Therefore, the order mentioned, the date has been prolonged to present a last alternative to such taxpayers and cut back the pendency of present prosecution instances prior to the courts.

Programs, as in keeping with the process of the scheme, are to be filed prior to the best competent authority this is both a essential leader commissioner or a major commissioner or a essential director normal or director normal of the Source of revenue-Tax Division “on or prior to” January 31, 2020.

The CBDT, whilst launching the scheme in September remaining 12 months, had stated that this “one-time measure” is being undertaken to mitigate accidental hardship to taxpayers in deserving instances and to cut back the pendency of present prosecution instances prior to the courts.

“Circumstances had been dropped at the awareness of CBDT the place the taxpayers may just now not observe for compounding of the offence because the compounding software was once filed past 12 months,” it had stated.

The comfort, on the other hand, shall now not be to be had in recognize of an offence which is usually or in most cases now not compoundable, indicating cases of great tax evasion, monetary crime, terror financing, cash laundering, ownership of unlawful overseas belongings, benami houses or conviction via a court docket prior to now.

The CBDT round added that software for compounding of an source of revenue tax offence can also be filed in instances the place:

Prosecution court cases are pending prior to any court docket of regulation for greater than 12 months or any compounding software for an offence filed up to now was once withdrawn via the applicant only given that such software was once filed past 12 months or any compounding software for an offence have been rejected up to now only for technical causes.

The CBDT, which frames coverage for the tax division, had previous stated that compounding of offences is “now not an issue of proper” and the dep. can prolong any such aid handiest in sure instances.

This will probably be executed retaining in view elements like “behavior of the individual, the character and magnitude of the offence at the context of the details and instances of each and every case,” it had stated.

About the author

Laura Price

Laura Price

Laura is the senior writer and Smartphones section editor responsible for managing software updates and smartphones section. She is very passionate about Gadgets & Technology and always looking around to use them in an innovative way in daily life. She reviews Gadgets & Applications to tell users about their optimum use to get the most out of in which they’ve put their time and hard earned money.
Email:[email protected]



The United States on Wednesday commended Pakistan’s jailing of this alleged mastermind of this 2008 Mumbai assault, a measure sought by Washington in addition to India.

The certainty”of Hafiz Saeed and his partner is a significant step ahead — equally toward holding LeT liable for the crimes, and also for Pakistan in fulfilling its international commitments to fight terrorist funding,” tweeted Alice Wells, the top US diplomat for South Asia.

She had been speaking to Lashkar-e-Taiba, the militant group that both Washington and New Delhi accounts accountable for its siege of the Indian financial capital that murdered 166 individuals.

LeT is the militant wing of this Jamaat-ud-Dawa Islamist charity headed by Saeed.

You have reached your limit for free posts this month.

Locate mobile-friendly variant of posts from the day’s paper in a single easy-to-read list.

Endless Access

Love reading as many posts as you wish with no constraints.

A pick collection of articles that fit your interests and preferences.

Quicker pages

Move easily between posts as our pages load immediately.

A one-stop-shop for viewing the most recent updates, and handling your own preferences.

We brief you about the most current and most crucial advancements, three times every day.

Not convinced? Know why you need to pay for information.

*Our Digital Subscription programs don’t currently incorporate the e-paper,crossword, iPhone, iPad cellular programs and print. Our strategies improve your reading experience.

RSS blogs