New Income Tax Rules From Today, Not Just Fail From Filling

Central Board of Direct Taxes

Central Board of Direct Taxes – Taking the screws on tax evaders, the revised guidelines issued by the Income Tax Department (I-T) have committed serious offenses under black money and benami laws “generally” non-compound

This means that no person or organization will be able to settle a case of tax evasion by paying only the tax demand, fines and interest.

The new guidelines will kick off from June 17, 2019, and will apply to all cases received on or after this date.

Listing 13 cases, where crime is not usually complicated, and the offenses are to be divided into two parts, the Central Board of Direct Taxes (CBDT) has circulated the revised guidelines for compliance by the concerned officers to their senior officials. Has directed.

The offenses of ‘A’ category include failure to pay the tax deducted at source under Chapter XVII-B or payable under section 115-0. Failure to pay taxes collected on the source also falls in this category.

Failure to produce tax in class ‘B’ crimes, failure to produce accounts and documents and incorrect details in the verification are included.

Central Board of Direct Taxes

While the first-class crime is open for compounding, a search campaign is not to be compounded by theft of the tax evasion and removal or concealment or property transfer or distribution to fail to tax collection.

“The crimes under section 275, 275B and 276 of the Act will not be compounded,” the new guideline states that one released in 2014 has been removed.

It has been stated in the guidelines that a category ‘A’ crime will not usually be complicated on more than three occasions.

The amended guidelines say that any offense of any crime under black money (undeclared foreign income and property) and the tax act, 2015 will not be generally complicated.

Apart from this, any crime which affects any crime under the Anonymous Transaction (Prohibition) Act, 1988, will not merge compound merit by the tax authorities.

The guidelines of the CBDT have been stated that according to the information provided by a person, who is the Chief Income Tax Commissioner and other related officials, in any case, there is an impact on the investigation (at any level including filing an FIR / complaint) ) By the Enforcement Directorate, CBI, Lokpal, Lokayukta or any other central or state agency will not be compounded.

The tax body said, “In spite of nothing in these guidelines, the Finance Minister can relax the restrictions in paragraph 8.1 for a crime in a worthy case to consider a report from the Board on an applicant’s petition.”

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