There has been a set of new guidelines issued recently by the Central Board of Direct Taxes on Friday to punish the tax defaulters. These guidelines would come into action from Monday, June 17th onwards. The defaulters would now no more be able to compensate their offences by paying stiff amount of fines in exchange of prosecution processes.

This set of guidelines of 30 plus pages has increased the compensation amount several times in many cases while has manipulated punishments in others. These guidelines come onto the 'Compounding of offences under direct tax laws.' These new rules will now also be applicable on the applications recieved from the date of effect.

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