Income tax offences: To avoid jail term when can you use income tax compounding provisions; CBDT issues new FAQ

Income tax: The Central board of Direct Taxes (CBDT) has released new FAQs on compounding of offences. Under these provisions if you have any pending income tax case and want to settle this then you may apply for compounding of offences and get the case dropped. This can also help you avoid jail term if the tax department has imposed any criminal case.