Tax experts unhappy with CBDT guidelines aimed to send people to jail
India, June 22 -- New Delhi: Tax experts are unhappy with the new guidelines issued by the Central Board of Direct Taxes (CBDT) this week. The guidelines have made tax-evasion a non-compoundable offence. Under the new guidelines, a person/entrepreneur can be sent to jail for even forgetting to transfer TDS.
The CBDT, the policymaking body for the Income Tax (I-T) Department, has issued 32 pages of guidelines for "compounding of offences under direct tax laws, 2019" which will be executed under I-T Act, 1961.
"Compounding of offences is not a matter of right and the department can extend such a relief only in certain cases keeping in view factors like conduct of the person, the nature and magnitude of the offence in the context of the fa...
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