Govt to decriminalise minor tax offences within 100 days: Report

Updated : Jun 11, 2024 16:06
|
Editorji News Desk

The Centre plans to address a long-standing industry demand by decriminalising minor income tax offences as per an exclusive report by Moneycontrol.

Prosecution will be replaced with penalties to improve ease of doing business, a senior government official revealed to
Moneycontrol.

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The report further added that within the next 100 days, the government plans to promote ease of doing business by revising certain provisions of the Income Tax Act. The threshold for what constitutes a minor offence will be established to facilitate this change.

Internal discussions are currently underway to determine the threshold for compounding offences. Presently, criminal prosecution can be triggered for minor infractions, such as delayed payment of TDS, which can even lead to the prosecution of company directors. 

Income Tax

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