CBDT issued new norms
16, Jun 2019
Prelims level : Mains level :
- The Central Board of Direct Taxes issued new norms for compounding of offences on 14 June 2019.
- The new guidelines have exclusion provisions, under which, offences under the Black Money and Imposition of Act, 2015, cannot be compounded in normal cases.
- This includes money laundering cases.
- Compounding means that the authorities agree to not prosecute offenders in return for a consideration.