Saturday, January 4th, 2020

 

CBDT extends till January 31 deadline for compounding of income tax offences

New Delhi: The CBDT has extended till January 31 the last date for taxpayers to avail a “one-time” facility to apply for compounding of income tax offences, an order issued on Friday said. The earlier deadline was December 31, 2019. In I-T parlance, compounding means that the taxman does not file a prosecution case against the offender or tax evader in court in lieu of payment of due taxes and surcharges. The decision to extend the last date was taken “in view of references received from field formations, including requestsRead More