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INDIAN (B)

Govt tightens noose around tax defaulters

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Tightening noose around several categories of tax defaulters, like those who stash black money offshore, will not be able to compound their offences (a process of paying a stiff compounding fee in lieu of prosecution). On Friday, Central Board of Direct Taxes issued revised guidelines on ‘Compounding of offences under the direct tax laws’ in effect from June 17.



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