Relief against income tax offences as charges for TDS default reduced: Details
ANI
Oct 18, 2024 8:59 AM IST
Guidelines simplify compounding of offences and key changes include elimination of offence categorization and removal of application limits for compounding.
New CBDT guidelines streamline the compounding process under the Income-tax Act, easing accessibility for taxpayers. They eliminate offence categorization and allow unlimited applications, while also reducing compounding charges and abolishing interest on delayed payments.
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