Guidelines for compounding of offences under Direct Tax Laws- 2014 clarification regarding amount of compounding fees for offences u/s 276C(1) of the IT Act, 1961 - Income Tax - F. No. 285/35/2013-IT (Inv. V)/17

F. No. 285/35/2013-IT (Inv. V)/17 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) E-2, ARA Centre, Jhandewalan Extn. New Delhi-110055. Dated : 09.07.2015 To, The Pr. Chief Commissioner of Income Tax, [by name] Jaipur. Sir, Sub : Guidelines for compounding of offences under Direct Tax Laws- 2014 clarification regarding amount of compounding fees for offences u/s 276C(1) of the IT Act, 1961 I am directed to refer to your letter F. No. PCCIT/JPR/DC(T)/15-16/IA-IV/1751 dated 12.06.2015 on the subject cited above. In this regard, it is pertinent to reproduce the provisions of section 276C(1) of the Act as under: If a person wilfully attempts in any manner whatsoever to evade any tax, penalty or interest chargeable or imposable under this Act, he shall, without prejudice to any penalty that may be imposable on him under any other provision of this Act, be punishable, i) In a case where the amount sought to be evaded exceeds [twenty five] hundred thousand rupees, with rigorous Imprisonment for a term which shall not be less than six months but which may extend to seven years and with fine; ii) In any other case, with rigorous imprisonment for a team which shall not be less than three months but which may extend to (two) years and with fine . 3. From the above It is clear that the term sought to be evaded is defined in the section itself. From the reading of the section it is evident that the term amount sought to be evaded refers to amount of any tax, penalty or interest chargeable or impossible under the Act. 4. This issues with the approval of Member(Investigation), CBDT. Yours faithfully, (Rajat Mittal) Under Secretary (Inv. V), CBDT