CBDT Issues New Norms for Compounding of Offences - (17 Jun 2019)
DIRECT TAXATION
Central Board of Direct Taxes (CBDT) has issued new norms for compounding of offences under black money law. These will replace the old Guidelines. The new Guidelines have exclusion provisions, under which, offences done under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015, the Benami Transactions (Prohibition) Act, 1988 cannot be compounded in normal cases. This includes money laundering cases.
Tags : CBDT COMPOUNDING OF OFFENCES
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