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

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..... , 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 .....

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..... 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), CBD .....

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