Compounding of an offence - reg

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Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2015 Compounding of an offence under section 276B is 5% per month of the amount of tax in default as per the circular no. FNo.265/26/2002(INV) DT: 29/7/2000 263 (ITR) ST 3.
Is this percentage revised to 3% or is it 5% only? Any circular issued after this date?
Pls. clarify

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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21 February 2015 Yes amended. Now 3% for failure to pay TDS and for willful attempt to evade payment of any tax.

For details Please see latest guide lines F.No.285/35/2013 IT(Inv.V)/108 dated 23.12.2014

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