Poket News

CBDT launches one-time facility for compounding of income tax offences

  • A one-time facility to apply for compounding of  income tax offences has been launched and taxpayers  can avail this opportunity by December 31.
  • The Central Board of Direct Taxes (CBDT) has issued a  circular this week relaxing the 12-month time limit for  compounding application, as a one-time measure.
  • A taxpayer, in order to avail the facility, will have to file  an application before the competent authority.